Financial Results : Knowledge City narrows Q1 2021 loss to SAR 4.8 mln

Knowledge City narrows Q1 2021 loss to SAR 4.8 mln

09/05/2021 Argaam Exclusive

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Knowledge Economic City (KEC) narrowed its net loss after Zakat and tax to SAR 4.8 million for the first quarter of 2021, from SAR 6.8 million in the same period last year, due to higher revenue.



Current Quarter Comparison (M)

Compared With The
Item Q1 2020 Q1 2021 Change‬
Revenues 23.19 24.63 6.2 %
Gross Income 5.06 6.57 29.9 %
Operating Income (5.37) (3.28) 39.0 %
Net Income (6.76) (4.76) 29.6 %
Average Shares 339.30 339.30 -
EPS (Riyals) (0.02) (0.01) 29.6 %

When compared to the previous quarter, the company widened losses by 36%, due to a decrease in Murabaha income, resulting from declining investment in Murabaha deposits and lower profit rates.

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