Financial Results : Electrical Industries profit surges to SAR 7 mln in Q1 2021

Electrical Industries profit surges to SAR 7 mln in Q1 2021

04/05/2021 Argaam Exclusive

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Electrical Industries Co. (EIC) reported a net profit after Zakat and tax of SAR 7 million for Q1 2021, compared to SAR 848,000 a year earlier.

 

The higher earnings were driven by higher sales and a decline in financial expenses.



Current Quarter Comparison (M)

Compared With The
Item Q1 2020 Q1 2021 Change‬
Revenues 139.50 167.83 20.3 %
Gross Income 24.99 31.41 25.7 %
Operating Income 7.70 11.45 48.6 %
Net Income 0.85 6.96 720.6 %
Average Shares 1,125.00 1,125.00 -
EPS (Halala) 0.08 0.62 720.6 %

When compared to the previous quarter, net profit in Q1 2021 fell 75% from SAR 27.9 million due to lower sales.

 

Shareholders’ equity, excluding minority interest, rose 3.6% to SAR 572.68 million by the end of Q1 2021, compared to SAR 552.83 million in the year-ago period.

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