Alujain Corp. reported a net profit of SAR 5.6 million in Q1 2024, versus a net loss of SAR 20.9 million a year earlier.
| Item | Q1 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 397.06 | 478.21 | 20.4 % |
| Gross Income | 43.64 | 79.25 | 81.6 % |
| Operating Income | 9.50 | 34.40 | 262.0 % |
| Net Income | (20.88) | 5.62 | 126.9 % |
| Average Shares | 69.20 | 69.20 | - |
| EPS (Riyals) | (0.30) | 0.08 | 126.9 % |
| Item | Q4 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 175.37 | 478.21 | 172.7 % |
| Gross Income | 22.79 | 79.25 | 247.8 % |
| Operating Income | (26.61) | 34.40 | 229.3 % |
| Net Income | (66.72) | 5.62 | 108.4 % |
| Average Shares | 69.20 | 69.20 | - |
| EPS (Riyals) | (0.96) | 0.08 | 108.4 % |
The positive performance was driven by a 23% increase in sales quantities and a 9.7% decrease in propane prices.
On a quarterly basis, the company turned profitable against a loss of SAR 66.7 million in Q4 2023.
Total shareholders’ equity, after minority interest, stood at SAR 3.01 billion as of March 31, 2024, compared to SAR 2.56 billion in the prior-year period.
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