Financial Results : Maharah net profit declines 45% to SAR 31.3 mln in Q1 2021

Maharah net profit declines 45% to SAR 31.3 mln in Q1 2021

02/05/2021 Argaam Exclusive

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Maharah Human Resources Co.'s net profit after Zakat and tax declined 45% to SAR 31.3 million in Q1 2021 from SAR 57.3 million in the same period last year.



Current Quarter Comparison (M)

Compared With The
Item Q1 2020 Q1 2021 Change‬
Revenues 389.76 321.61 (17.5 %)
Gross Income 79.03 55.17 (30.2 %)
Operating Income 59.76 33.50 (44.0 %)
Net Income 57.25 31.32 (45.3 %)
Average Shares 475.00 475.00 -
EPS (Riyals) 0.12 0.07 (45.3 %)

The decrease in profit was attributed to lower revenue, along with higher general and administrative expenses.

 

This was offset by improved performance of an associate company.

When compared to the previous quarter, the net profit after Zakat and tax rose 39% in Q1 2021.

 

The company will host an investor call on Wednesday, May 5, 2021, at 3:00 pm. To attend this event, click

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