Quara Finance net profit dips 10% to SAR 25.3M in H1 2024

21/10/2024 Argaam Exclusive

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Quara Finance Co. posted a 10% decline in H1 2024 net earnings to SAR 25.3 million, from SAR 27.9 million in the year-earlier period.

Financials (M)

Item	6m 2023	6m 2024	Change‬
Net income from finance commissions	93.07	94.67	1.7 %
Net Income	27.90	25.25	(9.5 %)
Average Shares	30.00	30.00	-
EPS (Riyals)	0.93	0.84	(9.5 %)

The first-half net profit was hurt by an increase in impairment and write-off charges. On the other hand, revenue saw growth, primarily due to better financing portfolio returns.

Current Half Annual Comparison (M)

Compared With The

Item	H1 2023	H1 2024	Change‬
Net income from finance commissions	93.07	94.67	1.7 %
Net Income	27.90	25.25	(9.5 %)
Average Shares	30.00	30.00	-
EPS (Riyals)	0.93	0.84	(9.5 %)

Item	H2 2023	H1 2024	Change‬
Net income from finance commissions	85.64	94.67	10.6 %
Net Income	25.89	25.25	(2.5 %)
Average Shares	30.00	30.00	-
EPS (Riyals)	0.86	0.84	(2.5 %)

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