Quara Finance Co.’s net profit for 2023 rose by 6% to SAR 53.8 million, compared to SAR 50.8 million in 2022.
The profit rise was attributed to growing demand for financial products, as the company was able to maintain a good yield on the products year-on-year (YoY) due to its focus on retail products.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Net income from finance commissions | 156.12 | 178.71 | 14.5 % |
| Net Income | 50.84 | 53.79 | 5.8 % |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 1.69 | 1.79 | 5.8 % |
Q4 net profit fell 56% to SAR 5.6 million from SAR 12.8 million in Q4 2022.
Sequentially, Q4 profit fell 72.2% to SAR 20.2 million in Q3 2023.
| Item | Q4 2022 | Q4 2023 | Change |
|---|---|---|---|
| Net income from finance commissions | 41.09 | 41.81 | 1.7 % |
| Net Income | 12.82 | 5.62 | (56.1 %) |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 0.43 | 0.19 | (56.1 %) |
| Item | Q3 2023 | Q4 2023 | Change |
|---|---|---|---|
| Net income from finance commissions | 43.83 | 41.81 | (4.6 %) |
| Net Income | 20.27 | 5.62 | (72.2 %) |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 0.68 | 0.19 | (72.2 %) |
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