Jamjoom Pharmaceuticals Factory Co. (Jamjoom Pharma) posted a net profit of SAR 84.4 million in Q1 2023, a 94% increase from SAR 43.5 million a year earlier.
| Item | Q1 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 243.78 | 300.85 | 23.4 % |
| Gross Income | 164.32 | 199.61 | 21.5 % |
| Operating Income | 77.42 | 93.91 | 21.3 % |
| Net Income | 43.53 | 84.40 | 93.9 % |
| Average Shares | 70.00 | 70.00 | - |
| EPS (Riyals) | 0.62 | 1.21 | 93.9 % |
| Item | Q4 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 196.84 | 300.85 | 52.8 % |
| Gross Income | 125.41 | 199.61 | 59.2 % |
| Operating Income | 38.26 | 93.91 | 145.4 % |
| Net Income | 31.76 | 84.40 | 165.8 % |
| Average Shares | 70.00 | 70.00 | - |
| EPS (Riyals) | 0.45 | 1.21 | 165.8 % |
The positive performance was driven by 23.9% increase in revenue driven by strong demand for the company's products, price increases approved by SFDA for some of key products during the latter part of Q1 2023 and better-than-expected growth of the pharma market.
Sequentially, net profit jumped 165% from SAR 31.80 million in Q4 2022 as revenue rose 53.5%.
Shareholders’ equity, no minority interest, stood at SAR 1.26 billion as of March 31, 2023, compared to SAR 1.23 billion a year earlier.
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