Financial Results : Electrical Industries net profit rises 75% to SAR 12.2 mln in Q1 2022

Electrical Industries net profit rises 75% to SAR 12.2 mln in Q1 2022

27/04/2022 Argaam Exclusive

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Electrical Industries Co. posted a net profit after Zakat and tax of SAR 12.2 million for Q1 2022, leaping 75% from SAR 7 million in year-earlier period.  



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 167.83 229.08 36.5 %
Gross Income 31.41 39.88 27.0 %
Operating Income 11.45 17.41 52.0 %
Net Income 6.96 12.17 74.9 %
Average Shares 1,125.00 1,125.00 -
EPS (Halala) 0.62 1.08 74.9 %

The firm attributed the profit growth to higher sales and the diversification of sold products, which include products with higher profitability. 

 

Meanwhile, Q1 2022 net profit declined 48.7% from SAR 23.75 million in the previous quarter.  

 

Total shareholders’ equity, excluding minority interest, reached SAR 600 million in Q1 2022, compared to SAR 572,684 million in the year-earlier period.

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