Astra 9M 2023 profit reaches SAR 341 mln, Q3 at SAR 103.4 mln

05/11/2023 Argaam Exclusive

View other reports

Astra Industrial Group reported a net profit of SAR 341 million in the first nine months of 2023, compared to SAR 388.7 million in the year-ago period.

Financials (M)

Item	9m 2022	9m 2023	Change‬
Revenues	1,865.13	2,042.87	9.5 %
Gross Income	719.58	848.60	17.9 %
Operating Income	263.22	379.84	44.3 %
Net Income	388.65	341.04	(12.2 %)
Average Shares	80.00	80.00	-
EPS (Riyals)	4.86	4.26	(12.2 %)

The company attributed the profit decline to the gain from discontinued operations in the corresponding period of 2022. It also cited an increase in general and administrative expenses from the specialty chemicals and other segments, as well as higher Zakat expenses from the pharmaceuticals and specialty chemicals segments.

However, Astra reported an increase in sales and gross profit in the pharmaceuticals and steel industry segments, as well as a decrease in net financing costs in the other segments.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2022	Q3 2023	Change‬
Revenues	622.07	643.21	3.4 %
Gross Income	219.94	259.20	17.8 %
Operating Income	76.51	114.03	49.0 %
Net Income	70.87	103.42	45.9 %
Average Shares	80.00	80.00	-
EPS (Riyals)	0.89	1.29	45.9 %

Item	Q2 2023	Q3 2023	Change‬
Revenues	659.59	643.21	(2.5 %)
Gross Income	277.70	259.20	(6.7 %)
Operating Income	125.25	114.03	(9.0 %)
Net Income	114.74	103.42	(9.9 %)
Average Shares	80.00	80.00	-
EPS (Riyals)	1.43	1.29	(9.9 %)

In Q3 2023, the net profit reached SAR 103.4 million, up from SAR 70.87 million in the year before, driven by higher sales and gross profit in the pharmaceuticals segment, as well as lower net financing costs in the other segments.

Sequentially, the company’s Q3 net profit fell 9.9% from SAR 114.74 million in Q2 2023.

Shareholders’ equity, excluding minority interest, grew to SAR 1.99 billion as of Sept. 30, 2023, from SAR 1.71 billion in the year-earlier period.

View More Financial Results

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×