National Gypsum Co. reported a net profit after Zakat and tax of SAR 32.2 million for the first nine months of 2020, a sharp rise compared to SAR 1.6 million in the same period last year, the company said in a bourse statement.
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Revenues | 45.27 | 82.39 | 82.0 % |
| Gross Income | 8.60 | 41.75 | 385.8 % |
| Operating Income | 2.68 | 34.54 | 1191.2 % |
| Net Income | 1.56 | 32.24 | 1961.5 % |
| Average Shares | 31.67 | 31.67 | - |
| EPS (Riyals) | 0.05 | 1.02 | 1961.5 % |
The increase in net profit was attributed to higher sales, lower cost of sales and the change in investment’s fair value.
| Item | Q3 2019 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 21.49 | 29.54 | 37.4 % |
| Gross Income | 9.55 | 13.15 | 37.7 % |
| Operating Income | 7.84 | 10.01 | 27.6 % |
| Net Income | 6.96 | 9.35 | 34.3 % |
| Average Shares | 31.67 | 31.67 | - |
| EPS (Riyals) | 0.22 | 0.30 | 34.3 % |
| Item | Q2 2020 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 17.86 | 29.54 | 65.4 % |
| Gross Income | 7.85 | 13.15 | 67.5 % |
| Operating Income | 5.82 | 10.01 | 72.0 % |
| Net Income | 5.18 | 9.35 | 80.3 % |
| Average Shares | 31.67 | 31.67 | - |
| EPS (Riyals) | 0.16 | 0.30 | 80.3 % |
The company posted a net profit after Zakat and tax of SAR 9.3 million for Q3 2020, a 34% year-on-year (YoY) rise, on higher sales due to increased client orders.
When compared to previous quarter, Q3 2020 net profit grew 80.3% on higher gross profit.
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