Astra Industrial Group reported a net profit after Zakat and tax of SAR 34.1 million for the first quarter of 2020, more than three-fold increase year-on-year (YoY), compared to SAR 8.9 million in the same period a year earlier.
| Item | Q1 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 470.18 | 509.51 | 8.4 % |
| Gross Income | 187.63 | 207.17 | 10.4 % |
| Operating Income | 53.82 | 63.05 | 17.1 % |
| Net Income | 8.91 | 34.09 | 282.8 % |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 0.11 | 0.43 | 282.8 % |
| Item | Q4 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 456.36 | 509.51 | 11.6 % |
| Gross Income | 178.94 | 207.17 | 15.8 % |
| Operating Income | 48.09 | 63.05 | 31.1 % |
| Net Income | 19.64 | 34.09 | 73.6 % |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 0.25 | 0.43 | 73.6 % |
The firm attributed the surge to higher sales in pharmaceuticals and specialty chemicals sectors, lower financial charges, and non-recurring reversal of impairment provisions of financial assets in power and steel.
This was offset by an increase in other expenses in pharmaceuticals and specialty chemicals sectors as well as higher selling and marketing expenses.
When compared to the previous month, Q1 net profit rose by around 73.6% due to lower other expenses, loan settlement for a pharma subsidiary in Sudan, and higher sales of pharmaceuticals and specialty chemicals sectors despite the increase in Zakat and income tax.
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}}