Electrical Industries turns to net profit of SAR 25.1 mln in 9M 2021

26/10/2021 Argaam Exclusive

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Electrical Industries Co. reported a net profit after Zakat and tax of SAR 25.1 million for the first nine months of 2021, compared to a net loss after Zakat and tax of SAR 4 million in the same period last year.

The company attributed the net profit to higher sales and the diversification of sold products, including products with higher profitability.

Financials (M)

Item	9m 2020	9m 2021	Change‬
Revenues	397.20	541.08	36.2 %
Gross Income	58.71	103.12	75.6 %
Operating Income	10.64	36.33	241.5 %
Net Income	(3.96)	25.09	734.2 %
Average Shares	1,125.00	1,125.00	-
EPS (Halala)	(0.35)	2.23	734.2 %

The company reported a net profit of SAR 10.1 million for Q3 2021, a 50% year-on-year (YoY) increase.

On a sequential basis, net profit grew 26.8% QoQ from SAR 8 million in Q2 2021.

Total shareholders' equity, excluding minority interests, rose 3.5% YoY to SAR 567.61 million as of Sept. 30, 2021.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2020	Q3 2021	Change‬
Revenues	148.07	207.63	40.2 %
Gross Income	24.81	41.90	68.9 %
Operating Income	10.69	14.42	34.9 %
Net Income	6.77	10.14	49.7 %
Average Shares	1,125.00	1,125.00	-
EPS (Halala)	0.60	0.90	49.7 %

Item	Q2 2021	Q3 2021	Change‬
Revenues	165.62	207.63	25.4 %
Gross Income	29.81	41.90	40.5 %
Operating Income	10.46	14.42	37.9 %
Net Income	8.00	10.14	26.8 %
Average Shares	1,125.00	1,125.00	-
EPS (Halala)	0.71	0.90	26.8 %

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