Financial Results : Alujain turns to SAR 5.6M net profit in Q1 2024

Alujain turns to SAR 5.6M net profit in Q1 2024

08/05/2024 Argaam Exclusive

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Alujain Corp. reported a net profit of SAR 5.6 million in Q1 2024, versus a net loss of SAR 20.9 million a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2023 Q1 2024 Change‬
Revenues 397.06 478.21 20.4 %
Gross Income 43.64 79.25 81.6 %
Operating Income 9.50 34.40 262.0 %
Net Income (20.88) 5.62 126.9 %
Average Shares 69.20 69.20 -
EPS (Riyals) (0.30) 0.08 126.9 %

The positive performance was driven by a 23% increase in sales quantities and a 9.7% decrease in propane prices.

On a quarterly basis, the company turned profitable against a loss of SAR 66.7 million in Q4 2023.

 

Total shareholders’ equity, after minority interest, stood at SAR 3.01 billion as of March 31, 2024, compared to SAR 2.56 billion in the prior-year period.

 

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