MARAFIQ Q1 2024 profit drops 60% to SAR 42.8M

02/05/2024 Argaam Exclusive

Power and Water Utility Company for Jubail and Yanbu (MARAFIQ) reported a 60% drop in Q1 2024 net profit to SAR 42.8 million, from SAR 106.7 million in the year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2023 Q1 2024 Change‬
Revenues 1,473.17 1,599.22 8.6 %
Gross Income 255.82 199.34 (22.1 %)
Operating Income 196.21 126.92 (35.3 %)
Net Income 106.72 42.79 (59.9 %)
Average Shares 250.00 250.00 -
EPS (Riyals) 0.43 0.17 (59.9 %)

The three-month profit was hurt by a 43% increase year-on-year (YoY) in the fuel cost used in production, as well as a 10% YoY rise in the cost of water, power, and gas purchased for resale.

 

However, revenues grew by 8.6% YoY, while Zakat and income tax provision dropped by 35% YoY.

 

Compared to Q4 2023, the first-quarter net profit fell 40.3% from SAR 71.64 million as revenues fell by 1.5% quarter-on-quarter and the fuel cost used in production dropped by 33%.

 

Shareholders’ equity, no minority interest, declined to SAR 7.97 billion as of March 31, 2024, from SAR 8.05 billion a year earlier.

View more financial results

 

View other reports

Share Price

The Power and Water Utility Company for Jubail and Yanbu
55.50
(1.00) (1.77 %)

The Power and Water Utility Company for Jubail and Yanbu (MARAFIQ)

More


Financial Ratios
Current
Market Cap (M Riyal) 13,875.00
Enterprise Value (EV) (M) 20,055.18
Shares Outstanding ((M)) 250.00
EPS ( Riyal) (TTM) 1.46
Book Value (BV) ( Riyal) 32.41
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 37.94
P/E (TTM) 37.94
Price/book 1.71
Return on Average Assets (%) (TTM) 1.6
Return on Average Equity (%) (TTM) 4.5
more

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request