Electrical Industries Co. (EIC) reported a net profit after Zakat and tax of SAR 848,000 for Q1 2020, against a net loss of SAR 4.16 million a year earlier.
The first quarter figures were driven by higher sales and a decline in financial expenses due to lower finance costs.
| Item | Q1 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 106.18 | 139.50 | 31.4 % |
| Gross Income | 18.98 | 24.99 | 31.7 % |
| Operating Income | 1.56 | 7.70 | 393.4 % |
| Net Income | (4.16) | 0.85 | 120.4 % |
| Average Shares | 1,125.00 | 1,125.00 | - |
| EPS (Halala) | (0.37) | 0.08 | 120.4 % |
| Item | Q4 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 184.08 | 139.50 | (24.2 %) |
| Gross Income | 11.97 | 24.99 | 108.8 % |
| Operating Income | (6.59) | 7.70 | 216.9 % |
| Net Income | (32.81) | 0.85 | 102.6 % |
| Average Shares | 1,125.00 | 1,125.00 | - |
| EPS (Halala) | (2.92) | 0.08 | 102.6 % |
It turned profitable, when compared to a loss of SAR 32.8 million in Q4 2019, thanks to the diversification of sold products. In addition, the previous quarter included losses of SAR 30.8 million from writing off slow moving materials and a decline in the inventory value.
The current quarter also included losses of SAR 2.4 million amid higher inventory provisions.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}