Elm Co. reported a net profit after Zakat and tax of SAR 250 million for the first quarter of 2022, a 48% increase from SAR 169 million in the same period last year.
The increase in net profit is attributed to higher revenue resulting from the increase in digital business, outsourcing and professional services.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 773.63 | 1,092.01 | 41.2 % |
| Gross Income | 275.46 | 439.54 | 59.6 % |
| Operating Income | 168.53 | 269.81 | 60.1 % |
| Net Income | 168.87 | 249.64 | 47.8 % |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 2.11 | 3.12 | 47.8 % |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 1,069.45 | 1,092.01 | 2.1 % |
| Gross Income | 414.21 | 439.54 | 6.1 % |
| Operating Income | 115.37 | 269.81 | 133.9 % |
| Net Income | 110.27 | 249.64 | 126.4 % |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 1.38 | 3.12 | 126.4 % |
The increase in net profit is attributed to higher revenue resulting from the increase in digital business, outsourcing and professional services.
Sequentially, net profit more than doubled from a profit of SAR 110 million in Q4 2021.
Total shareholders’ equity excluding minority interest rose 14.5% to SAR 2.752 billion as of March 31, 2022, from SAR 2.403 million a year before.
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