Financial Results : Astra net profit up 94% to SAR 150.6 mln in 9M 2021

Astra net profit up 94% to SAR 150.6 mln in 9M 2021

03/11/2021 Argaam Exclusive

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Astra Industrial Group reported a net profit after Zakat and tax of SAR 150.6 million for the first nine months of 2021, a 94% increase compared to a net profit of SAR 77.5 million in the same period last year.



Financials (M)

Item 9m 2020 9m 2021 Change‬
Revenues 1,384.86 1,739.62 25.6 %
Gross Income 552.30 706.56 27.9 %
Operating Income 135.88 260.08 91.4 %
Net Income 77.52 150.58 94.2 %
Average Shares 80.00 80.00 -
EPS (Riyals) 0.97 1.88 94.2 %

The company attributed the increase in net profit to higher sales in power and steel, specialty chemicals and pharmaceuticals segments.



Current Quarter Comparison (M)

Compared With The
Item Q3 2020 Q3 2021 Change‬
Revenues 433.83 611.99 41.1 %
Gross Income 179.38 243.18 35.6 %
Operating Income 29.56 71.85 143.1 %
Net Income 19.20 45.37 136.3 %
Average Shares 80.00 80.00 -
EPS (Riyals) 0.24 0.57 136.3 %

The company reported a net profit of SAR 45.4 million in Q3 2021, a more than twofold year-on-year (YoY) increase, on higher sales, mainly in power and steel, and pharmaceuticals segments.

 

On a sequential basis, net profit fell 16.9% from SAR 54.6 million in Q2 2021 due to higher selling and distribution expense mainly in pharmaceuticals segment as well as higher general and administration expenses in pharmaceutical and other segments.

 

Total shareholders’ equity, after minority interest, increased 9% to SAR 1.396 billion as of Sept. 30, 2021, from SAR 1.279 billion a year earlier.

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