Arabian Pipes Co. reported a net profit of SAR 25.4 million for the first nine months of 2019, as compared to a net loss of SAR 33.7 million in the corresponding period, driven by a 22.8 percent increase in sales revenue.
The company also bagged several projects over the nine-month period which boosted profitability.
|Gross Income||11.95||75.81||534.3 %|
|Operating Income||(10.40)||52.76||607.1 %|
|Net Income||(33.65)||25.37||175.4 %|
|EPS (Riyal)||(0.84)||0.63||175.4 %|
The company’s net profit after zakat and tax for Q3 2019 stood at SAR 9.2 million, versus a net loss of SAR 16.8 million in year-earlier period, due to higher sales revenue, and lower cost of sales.
The company also cited production sustainability in Riyadh and Jubail units.
On a sequential basis, Q3 2019 net profit rose 13.6 percent.
|2019 - Q3 (e)||2019 - Q3 (a)||Change|
|Company||2019 - Q3 (e)||2019 - Q3 (a)||Difference|
|P/E Before Unusual Items (TTM)||NEG|
|Market Cap. (M)||549.60|
|Return on Average Assets||(5.05 %)|
|Return on Average Equity||(11.45 %)|