Maharah Human Resources Co. reported a net profit after Zakat and tax of SAR 24.8 million for Q1 2022, a 21% decline from SAR 31.3 million in the same period a year earlier.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 321.61 | 381.28 | 18.6 % |
| Gross Income | 55.17 | 49.03 | (11.1 %) |
| Operating Income | 33.50 | 22.94 | (31.5 %) |
| Net Income | 31.32 | 24.82 | (20.7 %) |
| Average Shares | 475.00 | 475.00 | - |
| EPS (Riyals) | 0.07 | 0.05 | (20.7 %) |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 349.67 | 381.28 | 9.0 % |
| Gross Income | 56.59 | 49.03 | (13.4 %) |
| Operating Income | 34.28 | 22.94 | (33.1 %) |
| Net Income | 39.27 | 24.82 | (36.8 %) |
| Average Shares | 475.00 | 475.00 | - |
| EPS (Riyals) | 0.08 | 0.05 | (36.8 %) |
The profit decline is attributed to higher general and administrative expenses and lower revenue from the newly established and acquired companies in the inception and restructuring phase.
Sequentially, the company’s net profit fell 36.8% in Q1 2022 from a net profit of SAR 39.27 million.
Total shareholders’ equity, excluding minority interest, stood at SAR 522.26 million as of March 31, 2022, increasing by 1.4% from SAR 515.08 million a year earlier.
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