Financial Results : Nama Chemicals Q1 2022 net profit jumps to SAR 33.4 mln

Nama Chemicals Q1 2022 net profit jumps to SAR 33.4 mln

27/04/2022 Argaam Exclusive

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Nama Chemicals Co.’s net profit after Zakat and tax soared to SAR 33.41 million in Q1 2022, compared to SAR 10 million in Q1 2021, driven by higher average profit margin for finished products, along with a decrease in general and administrative expenses and cost of finance. The company also recorded non-recurring income for disposal of scrap valued at SAR 2.1 million.

 

Meanwhile, the company noted a decrease in the selling quantity of finished products.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 162.82 172.81 6.1 %
Gross Income 34.00 52.04 53.0 %
Operating Income 12.84 32.79 155.4 %
Net Income 9.97 33.41 235.1 %
Average Shares 23.52 23.52 -
EPS (Riyals) 0.42 1.42 235.1 %

Nama Chemicals Q1 2022 net profit after Zakat and tax also surged in comparison to SAR 2.93 million in Q4 2021.

 

Shareholders’ equity, excluding minority interest, grew by 19.2% to SAR 366.14 million by the end of Q1 2022, compared to SAR 307.20 million in the year-ago period.

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