Financial Results : BCI profit surges to SAR 17.3 mln in Q1 2022

BCI profit surges to SAR 17.3 mln in Q1 2022

19/05/2022 Argaam Exclusive

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Basic Chemical Industries Co. (BCI) reported a profit of SAR 17.3 million for Q1 2022, compared to SAR 7.4 million in the year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 126.10 166.68 32.2 %
Gross Income 37.31 43.85 17.5 %
Operating Income 17.66 23.86 35.1 %
Net Income 7.43 17.44 134.7 %
Average Shares 27.50 27.50 -
EPS (Riyals) 0.27 0.63 134.7 %

The profit increase was driven by higher sales, lower general and administrative expenses and gains on the fair value revaluation of derivative financial instruments.

 

Sequentially, the company’s net profit declined 6.7% from SAR 18.57 million in Q4 2021.

 

Total shareholders’ equity, excluding minority interest, stood at SAR 587.58 million as of March 31, 2022, increasing by 3.1% from SAR 570.15 million a year earlier.

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