Al Kathiri Holding Co. reported a net profit of SAR 230,000 in Q1 2024, from SAR 1.6 million a year earlier.
| Item | Q1 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 32.11 | 45.64 | 42.1 % |
| Gross Income | 5.62 | 5.85 | 4.2 % |
| Operating Income | 2.44 | 2.64 | 8.0 % |
| Net Income | 1.56 | 0.24 | (84.5 %) |
| Average Shares | 226.04 | 226.04 | - |
| EPS (Halala) | 0.69 | 0.11 | (84.5 %) |
| Item | Q4 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 34.40 | 45.64 | 32.7 % |
| Gross Income | 1.38 | 5.85 | 325.1 % |
| Operating Income | (4.86) | 2.64 | 154.3 % |
| Net Income | (7.37) | 0.24 | 103.3 % |
| Average Shares | 226.04 | 226.04 | - |
| EPS (Halala) | (3.26) | 0.11 | 103.3 % |
The profit decline is attributed to higher cost of revenue and financing expenses.
Sequentially, the company turned to net profit against a loss of SAR 7.37 million in Q4 2023, on higher revenue from all segments.
Total shareholders’ equity, after excluding minority interest, stood at SAR 131.27 million, as of March 31, 2024, from SAR 136.77 million a year earlier.
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