Astra Industrial Group’s net profit after Zakat and tax increased by more than seven-fold year-on-year (YoY) to SAR 77.5 million for the first nine months of 2020, driven by lower financial charges, decreased loss share from joint ventures (JVs), and a decline in selling and distribution expenses.
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Revenues | 1,410.75 | 1,384.86 | (1.8 %) |
| Gross Income | 559.41 | 552.30 | (1.3 %) |
| Operating Income | 148.09 | 135.88 | (8.2 %) |
| Net Income | 10.06 | 77.52 | 670.6 % |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 0.13 | 0.97 | 670.6 % |
The third-quarter net profit after Zakat and tax stood at SAR 19.2 million, versus net loss of SAR 14.62 million in year-earlier period, due to higher gross profit, lower financial charges, and lower loss share from JVs.
The company also cited lower Zakat and income tax expenses.
On a sequential basis, Q3 2020 net profit dropped by 20.7%.
| Item | Q3 2019 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 447.16 | 433.83 | (3.0 %) |
| Gross Income | 161.80 | 179.38 | 10.9 % |
| Operating Income | 29.27 | 29.56 | 1.0 % |
| Net Income | (14.63) | 19.20 | 231.3 % |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | (0.18) | 0.24 | 231.3 % |
| Item | Q2 2020 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 441.51 | 433.83 | (1.7 %) |
| Gross Income | 165.76 | 179.38 | 8.2 % |
| Operating Income | 43.27 | 29.56 | (31.7 %) |
| Net Income | 24.22 | 19.20 | (20.7 %) |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 0.30 | 0.24 | (20.7 %) |
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