Financial Results : Dar Al-Arkan Q1 2021 net profit rises to SAR 28.5 mln

Dar Al-Arkan Q1 2021 net profit rises to SAR 28.5 mln

23/05/2021 Argaam Exclusive

View other reports

Dar Al-Arkan Real Estate Development Co. reported a net profit after Zakat and tax of SAR 28.5 million for the first quarter of 2021, rising more than twofold from SAR 12.4 million in the same period a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2020 Q1 2021 Change‬
Revenues 593.02 554.84 (6.4 %)
Gross Income 160.03 204.54 27.8 %
Operating Income 113.73 167.17 47.0 %
Net Income 12.42 28.52 129.7 %
Average Shares 1,080.00 1,080.00 -
EPS (Riyals) 0.01 0.03 129.7 %

The company attributed the profit rise to higher margin achieved on property sale, lower lease revenue, increase in finance cost, and lower share of income from associates and non-operating income from Islamic Murabaha deposit.

 

It was partially offset by the decrease in operating expenses.

When compared to the previous quarter, the real estate developer’s net profit after Zakat surged in Q1 2021 on higher property sales.

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.