Naseej net profit tumbles 97% to SAR 111,000 in Q1 2024

09/05/2024 Argaam Exclusive

Naseej International Trading Co. reported a net profit slump of 97% to SAR 111,000 in Q1 2024, from SAR 4.1 million in the prior-year period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2023 Q1 2024 Change‬
Revenues 78.74 63.82 (18.9 %)
Gross Income 17.63 11.77 (33.2 %)
Operating Income 8.58 2.80 (67.3 %)
Net Income 4.09 0.11 (97.3 %)
Average Shares 10.90 10.90 -
EPS (Riyals) 0.37 0.01 (97.3 %)

The annual net earnings were hurt by lower sales on a decline in sales volumes amid the current local and global market conditions. Naseej also reported lower profit share from investments in associates and joint ventures. Furthermore, expenses were recorded on the company’s latest capital increase.

 

Sequentially, the company swung to net profit from a loss of SAR 21.73 million in Q4 2023, backed by a quarter-on-quarter (QoQ) increase in sales as new customers joined the project division, in addition to the nature and seasonality of the markets in Q1 2024.

 

Operating expenses (OpEx) also decreased QoQ in Q1 2024. In addition, a Zakat provision has been allocated in the previous quarter.

 

Total shareholders’ equity, no minority interest, came in at SAR 90.26 million as of March 31, 2024, down from SAR 109.47 million a year earlier.

View More Financial Results

 

View other reports

Share Price

Naseej International Trading Co.
94.30
(0.60) (0.63 %)

Naseej International Trading Co. (NASEEJ)

More


Financial Ratios
Current
Market Cap (M Riyal) 1,027.87
Enterprise Value (EV) (M) 1,192.62
Shares Outstanding ((M)) 10.90
EPS ( Riyal) (TTM) (4.21)
Book Value (BV) ( Riyal) 6.05
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 15.58
Return on Average Assets (%) (TTM) (12.06 )
Return on Average Equity (%) (TTM) (51.83 )
more

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request