Knowledge Economic City (KEC) narrowed its net loss after Zakat and tax to SAR 4.8 million for the first quarter of 2021, from SAR 6.8 million in the same period last year, due to higher revenue.
| Item | Q1 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 23.19 | 24.63 | 6.2 % |
| Gross Income | 5.06 | 6.57 | 29.9 % |
| Operating Income | (5.37) | (3.28) | 39.0 % |
| Net Income | (6.76) | (4.76) | 29.6 % |
| Average Shares | 339.30 | 339.30 | - |
| EPS (Riyals) | (0.02) | (0.01) | 29.6 % |
| Item | Q4 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 20.58 | 24.63 | 19.7 % |
| Gross Income | 6.45 | 6.57 | 1.9 % |
| Operating Income | (3.81) | (3.28) | 14.0 % |
| Net Income | (3.51) | (4.76) | (35.5 %) |
| Average Shares | 339.30 | 339.30 | - |
| EPS (Riyals) | (0.01) | (0.01) | (35.5 %) |
When compared to the previous quarter, the company widened losses by 36%, due to a decrease in Murabaha income, resulting from declining investment in Murabaha deposits and lower profit rates.
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