Financial Results : Arabian Pipes’ 9M net profit rises to SAR 155.7M; Q3 at SAR 44 M

Arabian Pipes’ 9M net profit rises to SAR 155.7M; Q3 at SAR 44 M

31/10/2024 Argaam Exclusive

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Arabian Pipes Co. (APC) reported a net profit of SAR 155.7 million for the first nine months of 2024, an increase of 66.2% from SAR 93.7 million in the year-earlier period.



Financials (M)

Item 9m 2023 9m 2024 Change‬
Revenues 767.08 970.28 26.5 %
Gross Income 159.19 244.25 53.4 %
Operating Income 118.48 194.16 63.9 %
Net Income 93.69 155.72 66.2 %
Average Shares 15.00 15.00 -
EPS (Riyals) 6.25 10.38 66.2 %


Current Quarter Comparison (M)

Compared With The
Item Q3 2023 Q3 2024 Change‬
Revenues 234.12 318.47 36.0 %
Gross Income 59.75 63.73 6.7 %
Operating Income 44.76 55.69 24.4 %
Net Income 36.74 43.89 19.5 %
Average Shares 15.00 15.00 -
EPS (Riyals) 2.45 2.93 19.5 %
Q3 2024 net profit stood at SAR 44 million, an increase of 19.4% year-on-year (YoY), from SAR 36.7 million a year earlier.
 
On a sequential basis, net earnings decreased by 23.06%, from SAR 57.05 million.
 
Total shareholders’ equity (no minority equity) stood at SAR 388.8 million by Sept. 30, 2024, compared to SAR 206.4 million a year earlier.

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