Edarat Communication and Information Technology Co. posted a 32% profit leap to SAR 8.3 million in H1 2023 from SAR 6.3 million in the year-earlier period.
| Item | 6m 2022 | 6m 2023 | Change |
|---|---|---|---|
| Revenues | 28.54 | 39.87 | 39.7 % |
| Gross Income | 13.65 | 16.72 | 22.5 % |
| Operating Income | 7.21 | 8.93 | 23.8 % |
| Net Income | 6.27 | 8.27 | 31.8 % |
| Average Shares | 2.52 | 2.52 | - |
| EPS (Riyals) | 2.49 | 3.28 | 31.8 % |
The positive performance was driven by an increase in overall revenues by 39.69% year-on-year (YoY), as revenues in EdaratCloud services grew significantly by 126 YoY%. Further, Edarat reported a steady growth of 30% YoY in data center services compared to the same period of 2022.
The higher profit came despite the company’s continuous investment in cloud infrastructure expansions and human capital to support the business growth.
| Item | Q2 2022 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 14.90 | 20.11 | 34.9 % |
| Gross Income | 7.72 | 9.47 | 22.7 % |
| Operating Income | 3.74 | 5.81 | 55.3 % |
| Net Income | 3.24 | 5.37 | 65.9 % |
| Average Shares | 2.52 | 2.52 | - |
| EPS (Riyals) | 1.28 | 2.13 | 65.9 % |
| Item | Q1 2023 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 19.76 | 20.11 | 1.8 % |
| Gross Income | 7.25 | 9.47 | 30.7 % |
| Operating Income | 3.12 | 5.81 | 86.0 % |
| Net Income | 2.90 | 5.37 | 85.6 % |
| Average Shares | 2.52 | 2.52 | - |
| EPS (Riyals) | 1.15 | 2.13 | 85.6 % |
Shareholders’ equity, no minority interest, increased to SAR 29.72 million as of June 30, 2023, from SAR 15.71 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}}