Elm Co. reported a net profit after Zakat and tax of SAR 718 million in the first nine months of 2022, a 57% increase compared to SAR 456.6 million in the year-ago period.
| Item | 9m 2021 | 9m 2022 | Change |
|---|---|---|---|
| Revenues | 2,758.20 | 3,298.19 | 19.6 % |
| Gross Income | 908.71 | 1,338.21 | 47.3 % |
| Operating Income | 499.23 | 781.54 | 56.6 % |
| Net Income | 456.62 | 717.86 | 57.2 % |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 5.71 | 8.97 | 57.2 % |
The profit increase was driven by 41.14% rise in digital business revenue, a 65.65% surge in professional services revenue, which was partially offset by decrease in business process outsourcing revenue by 11.92%.
| Item | Q3 2021 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 966.78 | 1,167.42 | 20.8 % |
| Gross Income | 327.32 | 485.81 | 48.4 % |
| Operating Income | 196.31 | 272.88 | 39.0 % |
| Net Income | 177.60 | 273.36 | 53.9 % |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 2.22 | 3.42 | 53.9 % |
| Item | Q2 2022 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 1,038.77 | 1,167.42 | 12.4 % |
| Gross Income | 412.86 | 485.81 | 17.7 % |
| Operating Income | 238.86 | 272.88 | 14.2 % |
| Net Income | 194.85 | 273.36 | 40.3 % |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 2.44 | 3.42 | 40.3 % |
In Q3 2022, the net profit after Zakat and tax saw a 54% increase to SAR 273 million, from SAR 178 million in the year before.
Sequentially the company’s net profit rose 40% from SAR 195 million in Q2 2022.
Shareholders’ equity, excluding minority interest, grew to SAR 2.884 billion as of Sept. 30, 2022, from SAR 2.691 billion in the year-earlier period.
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