Financial Results : Astra net profit jumps 65% to SAR 122.9 mln in Q1 2023

Astra net profit jumps 65% to SAR 122.9 mln in Q1 2023

16/05/2023 Argaam Exclusive

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Astra Industrial Group posted a net profit of SAR 122.9 million in Q1 2023, a 65% increase from SAR 74.7 million a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2022 Q1 2023 Change‬
Revenues 634.52 748.28 17.9 %
Gross Income 273.88 311.97 13.9 %
Operating Income 95.31 138.78 45.6 %
Net Income 74.69 122.88 64.5 %
Average Shares 80.00 80.00 -
EPS (Riyals) 0.93 1.54 64.5 %

The positive performance was driven by higher sales across all segments; lower selling and distribution expenses in the pharmaceuticals, specialty chemicals and other segments; as well as lower financing costs of other segments.

 

Sequentially, net profit rose 43.4% from SAR 85.66 million in Q4 2022.

 

Shareholders’ equity, excluding minority interest, stood at SAR 1.97 billion as of March 31, 2023, compared to SAR 1.52 billion a year earlier.

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