Quara Finance 2024 profit down 20% to SAR 43.2M; H2 at SAR 18M

06/03/2025 Argaam Exclusive

Quara Finance Co.’s net profit for 2024 fell by 20% to SAR 43.2 million compared to SAR 53.8 million in 2023, on higher provisions for expected credit losses.



Financials (M)

Item 2023 2024 Change‬
Net income from finance commissions 178.71 190.95 6.9 %
Net Income 53.79 43.25 (19.6 %)
Average Shares 30.00 30.00 -
Earnings Per Share before unusual items (Riyals) 1.79 1.44 (19.6 %)
EPS (Riyals) 1.79 1.44 (19.6 %)

Meanwhile, revenue increased by 9.9% year-on-year to SAR 206.1 million, driven by new financing contracts that increased the size of the portfolio.

 

H2 net profit fell 31% to SAR 18 million from SAR 25.89 million in H2 2023.

 

Sequentially, H2 profit fell 28.7% compared to SAR 25.25 million in H1 2024.



Current Half Annual Comparison (M)

Compared With The
Item H2 2023 H2 2024 Change‬
Net income from finance commissions 85.64 96.28 12.4 %
Net Income 25.89 18.00 (30.5 %)
Average Shares 30.00 30.00 -
Earnings Per Share before unusual items (Riyals) 0.86 0.60 (30.5 %)
EPS (Riyals) 0.86 0.60 (30.5 %)

Total shareholders’ equity, no minority interest, increased to SAR 459.25 million as of Dec. 31, 2024, from SAR 392.52 million a year earlier.

 

Attached Document:

 

 

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Share Price

Quara Finance Co.
18.68
1.68 9.88 %

Quara Finance Co. (QUARA)

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Financial Ratios
Current
Market Cap (M) 560.40
Shares Outstanding ((M)) 30.00
Book Value (BV) ( Riyal) 15.31
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 12.96
Price/book 1.22
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