Financial Results : Jamjoom Pharma net profit up 94% to SAR 84.4 mln in Q1

Jamjoom Pharma net profit up 94% to SAR 84.4 mln in Q1

02/07/2023 Argaam Exclusive

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Jamjoom Pharmaceuticals Factory Co. (Jamjoom Pharma) posted a net profit of SAR 84.4 million in Q1 2023, a 94% increase from SAR 43.5 million a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2022 Q1 2023 Change‬
Revenues 243.78 300.85 23.4 %
Gross Income 164.32 199.61 21.5 %
Operating Income 77.42 93.91 21.3 %
Net Income 43.53 84.40 93.9 %
Average Shares 70.00 70.00 -
EPS (Riyals) 0.62 1.21 93.9 %

The positive performance was driven by 23.9% increase in revenue driven by strong demand for the company's products, price increases approved by SFDA for some of key products during the latter part of Q1 2023 and better-than-expected growth of the pharma market.

 

Sequentially, net profit jumped 165% from SAR 31.80 million in Q4 2022 as revenue rose 53.5%.

Shareholders’ equity, no minority interest, stood at SAR 1.26 billion as of March 31, 2023, compared to SAR 1.23 billion a year earlier.

 

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