Naseej International Trading Co.’s net profit slumped 37% to SAR 4.1 million in Q1 2023, from SAR 6.5 million a year earlier, due to lower export sales and other revenue along with higher Zakat provision.
| Item | Q1 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 83.63 | 78.74 | (5.9 %) |
| Gross Income | 18.93 | 17.63 | (6.9 %) |
| Operating Income | 6.64 | 8.58 | 29.1 % |
| Net Income | 6.46 | 4.09 | (36.8 %) |
| Average Shares | 10.90 | 10.90 | 0.0 % |
| EPS (Riyals) | 0.59 | 0.37 | (36.8 %) |
| Item | Q4 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 65.09 | 78.74 | 21.0 % |
| Gross Income | 1.09 | 17.63 | 1517.0 % |
| Operating Income | (15.94) | 8.58 | 153.8 % |
| Net Income | (11.62) | 4.09 | 135.2 % |
| Average Shares | 10.90 | 10.90 | 0.0 % |
| EPS (Riyals) | (1.07) | 0.37 | 135.2 % |
Sequentially, the company turned to a net profit against a loss of SAR 11.62 million in Q4 2022, on higher sales and sale of obsolete and slow-moving inventory.
Total shareholders’ equity, no minority interest, stood at SAR 109.47 million as of March 31, 2023, compared to SAR 115.43 million a year earlier.
Accumulated losses reached SAR 502,000 by the end of Q1 2023, representing 0.5% of capital.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}