East Pipes profit grows to SAR 184.1M in H1 2024/25; Q2 at SAR 112.8M

31/10/2024 Argaam Exclusive

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East Pipes Integrated Co. posted a net profit rise to SAR 184.1 million for the six-month period ended Sept. 30, 2024, from SAR 2.2 million in the prior-year period.

Financials (M)

Item	6m 2023	6m 2024	Change‬
Revenues	269.11	904.57	236.1 %
Gross Income	26.85	220.18	720.0 %
Operating Income	16.08	213.89	1229.8 %
Net Income	2.23	184.09	8147.5 %
Average Shares	31.50	31.50	-
EPS (Riyals)	0.07	5.84	8147.5 %

The profit growth was driven by an increase in revenue to SAR 905 million for H1 2024/25, compared to SAR 269 million a year earlier due to better sales volumes, scheduled delivery plans and enhanced profit margins.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2023	Q2 2024	Change‬
Revenues	230.27	540.15	134.6 %
Gross Income	33.11	133.76	304.0 %
Operating Income	28.01	127.10	353.8 %
Net Income	20.79	112.85	442.7 %
Average Shares	31.50	31.50	-
EPS (Riyals)	0.66	3.58	442.7 %

Item	Q1 2024	Q2 2024	Change‬
Revenues	364.42	540.15	48.2 %
Gross Income	86.42	133.76	54.8 %
Operating Income	86.79	127.10	46.4 %
Net Income	71.24	112.85	58.4 %
Average Shares	31.50	31.50	-
EPS (Riyals)	2.26	3.58	58.4 %

The second-quarter net profit skyrocketed to SAR 112.8 million, from SAR 29.7 million in Q2 2023/24.

Net profit also jumped 58.4% from SAR 71.2 million in the previous quarter.

Shareholders’ equity, no minority interest, rose to SAR 985.08 million as of Sept. 30, 2024, from SAR 586.52 million a year earlier.

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