Financial Results : SVCP’s net profit surges to SAR 1.3 mln in Q1 2022

SVCP’s net profit surges to SAR 1.3 mln in Q1 2022

16/05/2022 Argaam Exclusive

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Saudi Vitrified Clay Pipes Co. (SVCP) reported a surge in Q1 2022 net profit after Zakat and tax to SAR 1.3 million, from SAR 230,000 in Q1 2021, due to an increase in other revenue following the receipt of an advance payment of insurance compensation.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 24.75 18.54 (25.1 %)
Gross Income 7.13 2.89 (59.5 %)
Operating Income 0.94 (2.69) (387.0 %)
Net Income 0.23 1.28 457.2 %
Average Shares 15.00 15.00 -
EPS (Riyals) 0.02 0.09 457.2 %

When compared to Q4 2021, the company net profit after Zakat and tax jumped 39.4% from SAR 0.91 million.

 

Shareholders’ equity, excluding minority interest, declined to SAR 278.21 million by the end of Q1 2022, compared to SAR 279.21 million in the year-ago period.

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