Electrical Industries Co. reported net profit after Zakat and tax of SAR 15 million in H1 2021, from a net loss of SAR 10.7 million in the prior-year period.
The profit was attributed to higher sales, diversification of sold products, including products with higher profitability, improvement of gross margin in certain products, in addition to lower financing charges.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Revenues | 249.14 | 333.45 | 33.8 % |
| Gross Income | 33.91 | 61.22 | 80.6 % |
| Operating Income | (0.05) | 21.91 | 40668.5 % |
| Net Income | (10.73) | 14.96 | 239.4 % |
| Average Shares | 1,125.00 | 1,125.00 | - |
| EPS (Halala) | (0.95) | 1.33 | 239.4 % |
The company reported a net profit after Zakat and tax of SAR 8 million for Q2 2021, from a net loss after Zakat and tax of SAR 11.6 million in the same quarter last year.
On a sequential basis, the company’s net profit grew 15% on lower selling and distribution expenses and lower expected credit loss allowance.
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 109.64 | 165.62 | 51.1 % |
| Gross Income | 8.92 | 29.81 | 234.2 % |
| Operating Income | (7.76) | 10.46 | 234.8 % |
| Net Income | (11.58) | 8.00 | 169.1 % |
| Average Shares | 1,125.00 | 1,125.00 | - |
| EPS (Halala) | (1.03) | 0.71 | 169.1 % |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 167.83 | 165.62 | (1.3 %) |
| Gross Income | 31.41 | 29.81 | (5.1 %) |
| Operating Income | 11.45 | 10.46 | (8.7 %) |
| Net Income | 6.96 | 8.00 | 14.9 % |
| Average Shares | 1,125.00 | 1,125.00 | - |
| EPS (Halala) | 0.62 | 0.71 | 14.9 % |
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