National Gypsum Co. posted a net profit after Zakat and tax of SAR 3.2 million for the first quarter of 2022, down 77% compared to SAR 14.2 million in the same period a year earlier.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 27.01 | 14.59 | (46.0 %) |
| Gross Income | 14.58 | 5.19 | (64.4 %) |
| Operating Income | 12.31 | 2.58 | (79.0 %) |
| Net Income | 11.76 | 3.21 | (72.7 %) |
| Average Shares | 31.67 | 31.67 | 0.0 % |
| EPS (Riyals) | 0.37 | 0.10 | (72.7 %) |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 16.59 | 14.59 | (12.1 %) |
| Gross Income | 1.78 | 5.19 | 192.1 % |
| Operating Income | (3.24) | 2.58 | 179.8 % |
| Net Income | (2.71) | 3.21 | 218.4 % |
| Average Shares | 31.67 | 31.67 | 0.0 % |
| EPS (Riyals) | (0.09) | 0.10 | 218.4 % |
The firm attributed the profit decline to lower net sales and a 52.77% year-on-year decline in net miscellaneous investment income.
When compared to the previous quarter, the firm swung to net profit from a loss of SAR 5.14 million.
Shareholders’ equity, after minority interest, decreased to SAR 485.92 million as of March 31, 2022, from SAR 489.74 million a year earlier.
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