Financial Results : SRMG Q1 2021 net profit rises 41% to SAR 91.5 mln

SRMG Q1 2021 net profit rises 41% to SAR 91.5 mln

19/05/2021 Argaam Exclusive

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Saudi Research and Media Group (SRMG) reported a net profit after Zakat and tax of SAR 91.5 million for Q1 2021, a rise of 41% compared to SAR 64.7 million in the year earlier-period.

 

The company attributed the net profit growth to the increase in gross profit, resulting mainly from the rise in revenues by 20.5%.
 

Direct costs for the current quarter grew compared to the same quarter of the previous year due to operating costs of certain projects.



Current Quarter Comparison (M)

Compared With The
Item Q1 2020 Q1 2021 Change‬
Revenues 495.25 596.81 20.5 %
Gross Income 152.84 208.41 36.4 %
Operating Income 61.38 115.61 88.3 %
Net Income 64.73 91.53 41.4 %
Average Shares 80.00 80.00 -
EPS (Riyals) 0.81 1.14 41.4 %

When compared to the previous quarter, the net profit after Zakat and tax jumped 213.4% in Q1 2021.

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