Financial Results : National Gypsum Q1 2022 profit slumps 77% to SAR 3.2 mln

National Gypsum Q1 2022 profit slumps 77% to SAR 3.2 mln

24/05/2022 Argaam Exclusive

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National Gypsum Co. posted a net profit after Zakat and tax of SAR 3.2 million for the first quarter of 2022, down 77% compared to SAR 14.2 million in the same period a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 27.01 14.59 (46.0 %)
Gross Income 14.58 5.19 (64.4 %)
Operating Income 12.31 2.58 (79.0 %)
Net Income 11.76 3.21 (72.7 %)
Average Shares 31.67 31.67 0.0 %
EPS (Riyals) 0.37 0.10 (72.7 %)

The firm attributed the profit decline to lower net sales and a 52.77% year-on-year decline in net miscellaneous investment income. 

 

When compared to the previous quarter, the firm swung to net profit from a loss of SAR 5.14 million.

 

Shareholders’ equity, after minority interest, decreased to SAR 485.92 million as of March 31, 2022, from SAR 489.74 million a year earlier.

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