Saudi Advanced Industries Co. (SAIC) reported a net profit after Zakat and tax of SAR 65.5 million for the first nine months of 2021, a surge of over threefold from SAR 20.6 million a year earlier.
| Item | 9m 2020 | 9m 2021 | Change |
|---|---|---|---|
| Revenues | 27.03 | 74.90 | 177.1 % |
| Gross Income | 27.03 | 74.90 | 177.1 % |
| Operating Income | 21.41 | 68.55 | 220.1 % |
| Net Income | 20.55 | 65.51 | 218.9 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 0.34 | 1.09 | 218.9 % |
The company reported higher revenue on an increase in its profit share from subsidiaries and other revenue along with a decline in finance costs.
| Item | Q3 2020 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 9.59 | 35.88 | 273.9 % |
| Gross Income | 9.59 | 35.88 | 273.9 % |
| Operating Income | 7.78 | 33.83 | 334.7 % |
| Net Income | 7.50 | 31.67 | 322.3 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 0.13 | 0.53 | 322.3 % |
| Item | Q2 2021 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 19.34 | 35.88 | 85.5 % |
| Gross Income | 19.34 | 35.88 | 85.5 % |
| Operating Income | 17.17 | 33.83 | 97.0 % |
| Net Income | 16.79 | 31.67 | 88.6 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 0.28 | 0.53 | 88.6 % |
In Q3 2021, net profit after Zakat and tax more than quadrupled to SAR 31.7 million from SAR 7.50 million a year earlier, backed by a rise in revenue and lower finance costs.
When compared to the previous quarter, net profit soared by 88.6% from SAR 16.8 million.
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