Astra net profit surges to SAR 388.7 mln in 9M 2022, Q3 at SAR 70.9 mln

02/11/2022 Argaam Exclusive

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Astra Industrial Group reported a net profit after Zakat and tax of SAR 388.7 million in the first nine months of 2022, a 158% increase compared to SAR 150.6 million in the year-ago period.

Financials (M)

Item	9m 2021	9m 2022	Change‬
Revenues	1,739.62	1,865.13	7.2 %
Gross Income	706.56	719.58	1.8 %
Operating Income	260.08	263.22	1.2 %
Net Income	150.58	388.65	158.1 %
Average Shares	80.00	80.00	-
EPS (Riyals)	1.88	4.86	158.1 %

The profit increase was driven by gains on discontinued operation, lower other expenses in the pharmaceuticals segment, higher sales and gross profit in the specialty chemical and pharmaceuticals segments and lower provision for impairment of financial assets.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2021	Q3 2022	Change‬
Revenues	611.99	622.07	1.6 %
Gross Income	243.18	219.94	(9.6 %)
Operating Income	71.85	76.51	6.5 %
Net Income	45.37	70.87	56.2 %
Average Shares	80.00	80.00	-
EPS (Riyals)	0.57	0.89	56.2 %

Item	Q2 2022	Q3 2022	Change‬
Revenues	608.54	622.07	2.2 %
Gross Income	225.76	219.94	(2.6 %)
Operating Income	91.40	76.51	(16.3 %)
Net Income	243.10	70.87	(70.8 %)
Average Shares	80.00	80.00	-
EPS (Riyals)	3.04	0.89	(70.8 %)

In Q3 2022, the net profit after Zakat and tax saw a 56% increase to SAR 70.9 million, from SAR 45.4 million in the year before.

Sequentially the company’s net profit fell 70.8% from SAR 243.1 million in Q2 2022.

Shareholders’ equity, excluding minority interest, grew to SAR 1.715 billion as of Sept. 30, 2022, from SAR 1.395 billion in the year-earlier period.

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