Naseej International Trading Co. narrowed net loss after Zakat and tax to SAR 5.3 million in Q1 2021, from a net loss of SAR 19.5 million in the same period last year.
| Item | Q1 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 43.03 | 70.26 | 63.3 % |
| Gross Income | 1.60 | 10.15 | 535.0 % |
| Operating Income | (14.38) | (2.39) | 83.4 % |
| Net Income | (19.54) | (5.27) | 73.0 % |
| Average Shares | 8.91 | 8.91 | - |
| EPS (Riyals) | (2.19) | (0.59) | 73.0 % |
| Item | Q4 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 63.67 | 70.26 | 10.4 % |
| Gross Income | 17.14 | 10.15 | (40.8 %) |
| Operating Income | (16.43) | (2.39) | 85.5 % |
| Net Income | (7.81) | (5.27) | 32.5 % |
| Average Shares | 8.91 | 8.91 | - |
| EPS (Riyals) | (0.88) | (0.59) | 32.5 % |
The company attributed the decrease in net losses to the increase in sales, higher production capacity utilization, and decrease in cost per unit, which led to improved profit margins.
When compared to previous quarter, Naseej narrowed its net loss after Zakat and tax by 32.5%.
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