Alkhorayef Water and Power Technologies Co. (AWPT) posted a net profit of SAR 32.7 million for the first quarter of 2023, a 29% uptick from SAR 25.3 million in the year-ago period.
| Item | Q1 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 173.53 | 321.61 | 85.3 % |
| Gross Income | 43.56 | 56.77 | 30.3 % |
| Operating Income | 30.03 | 46.79 | 55.8 % |
| Net Income | 25.31 | 32.73 | 29.3 % |
| Average Shares | 25.00 | 25.00 | - |
| EPS (Riyals) | 1.01 | 1.31 | 29.3 % |
| Item | Q4 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 270.58 | 321.61 | 18.9 % |
| Gross Income | 53.49 | 56.77 | 6.1 % |
| Operating Income | 36.17 | 46.79 | 29.4 % |
| Net Income | 27.68 | 32.73 | 18.2 % |
| Average Shares | 25.00 | 25.00 | - |
| EPS (Riyals) | 1.11 | 1.31 | 18.2 % |
The year-on-year (YoY) profit increase was spurred by an 85.3% YoY rise in revenues to SAR 321.6 million during the three-month period, thanks to a 167.8% YoY jump in revenues from the water sector, with revenues from the wastewater and integrated water solutions sectors also up 41.1% and 27.7% YoY, respectively.
This was mainly attributed to the company’s new projects during the fourth quarter of 2022.
Additionally, AWPT’s Q1 2023 operating income advanced 51.8% to SAR 45.6 million, compared to SAR 30 million in the same quarter of the previous year, reflecting the positive impact of the aforementioned projects. This was despite the high costs in the prices of asphalt and diesel products.
When compared to the previous quarter, net profit grew 18.2% from SAR 27.68 million.
Total shareholders’ equity, excluding minority interest, edged higher to SAR 430.310 million as of March 31, 2023, compared to SAR 344.315 million a year earlier.
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}}