Alujain Holding Corp. reported a net profit after Zakat and tax of SAR 137.5 million in the first nine months of 2022, a 34% decline compared to SAR 209 million in the year-ago period.
| Item | 9m 2021 | 9m 2022 | Change |
|---|---|---|---|
| Revenues | 16.54 | 1,457.45 | 8714.3 % |
| Gross Income | 2.85 | 330.06 | 11481.2 % |
| Operating Income | (14.91) | 154.19 | 1134.2 % |
| Net Income | 209.00 | 137.48 | (34.2 %) |
| Average Shares | 69.20 | 69.20 | - |
| EPS (Riyals) | 3.02 | 1.99 | (34.2 %) |
The profit decline was attributed to lower share in net profit from NATPET, higher finance cost, and recording depreciation on additional assets.
| Item | Q3 2021 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 6.53 | 373.44 | 5616.2 % |
| Gross Income | 1.32 | 25.65 | 1840.4 % |
| Operating Income | (1.86) | 0.77 | 141.3 % |
| Net Income | 56.74 | 18.73 | (67.0 %) |
| Average Shares | 69.20 | 69.20 | - |
| EPS (Riyals) | 0.82 | 0.27 | (67.0 %) |
| Item | Q2 2022 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 574.64 | 373.44 | (35.0 %) |
| Gross Income | 144.29 | 25.65 | (82.2 %) |
| Operating Income | 64.17 | 0.77 | (98.8 %) |
| Net Income | 62.97 | 18.73 | (70.2 %) |
| Average Shares | 69.20 | 69.20 | - |
| EPS (Riyals) | 0.91 | 0.27 | (70.2 %) |
In Q3 2022, the net profit after Zakat and tax saw a 67% drop to SAR 18.7 million, from SAR 56.7 million in the year before.
Sequentially the company’s net profit fell 70% from SAR 63 million in Q2 2022.
Shareholders’ equity, excluding minority interest, grew to SAR 2.658 billion as of Sept. 30, 2022, from SAR 1.9 billion in the year-earlier period.
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