Basic Chemical Industries Co. (BCI) reported a profit of SAR 17.3 million for Q1 2022, compared to SAR 7.4 million in the year-earlier period.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 126.10 | 166.68 | 32.2 % |
| Gross Income | 37.31 | 43.85 | 17.5 % |
| Operating Income | 17.66 | 23.86 | 35.1 % |
| Net Income | 7.43 | 17.44 | 134.7 % |
| Average Shares | 27.50 | 27.50 | - |
| EPS (Riyals) | 0.27 | 0.63 | 134.7 % |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 146.38 | 166.68 | 13.9 % |
| Gross Income | 39.10 | 43.85 | 12.2 % |
| Operating Income | 28.53 | 23.86 | (16.4 %) |
| Net Income | 13.85 | 17.44 | 25.9 % |
| Average Shares | 27.50 | 27.50 | - |
| EPS (Riyals) | 0.50 | 0.63 | 25.9 % |
The profit increase was driven by higher sales, lower general and administrative expenses and gains on the fair value revaluation of derivative financial instruments.
Sequentially, the company’s net profit declined 6.7% from SAR 18.57 million in Q4 2021.
Total shareholders’ equity, excluding minority interest, stood at SAR 587.58 million as of March 31, 2022, increasing by 3.1% from SAR 570.15 million a year earlier.
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