Financial Results : Electrical Industries turns to SAR 848,000 profit in Q1 2020

Electrical Industries turns to SAR 848,000 profit in Q1 2020

19/05/2020 Argaam Exclusive

View other reports

Electrical Industries Co. (EIC) reported a net profit after Zakat and tax of SAR 848,000 for Q1 2020, against a net loss of SAR 4.16 million a year earlier.

 

The first quarter figures were driven by higher sales and a decline in financial expenses due to lower finance costs.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 106.18 139.50 31.4 %
Gross Income 18.98 24.99 31.7 %
Operating Income 1.56 7.70 393.4 %
Net Income (4.16) 0.85 120.4 %
Average Shares 1,125.00 1,125.00 -
EPS (Halala) (0.37) 0.08 120.4 %

It turned profitable, when compared to a loss of SAR 32.8 million in Q4 2019, thanks to the diversification of sold products. In addition, the previous quarter included losses of SAR 30.8 million from writing off slow moving materials and a decline in the inventory value.

 

The current quarter also included losses of SAR 2.4 million amid higher inventory provisions.

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.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

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

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
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.