Electrical Industries net profit rises to SAR 54.3 mln in 9M 2022; Q3 surges to SAR 23.6 mln

31/10/2022 Argaam Exclusive

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Electrical Industries Co. reported a net profit after Zakat and tax of SAR 54.3 million in the first nine months of 2022, a 116% increase, compared to SAR 25.1 million in the year-ago period.

 

The profit increase was driven by higher sales and the diversification of sold products, which include products with higher profitability and improved margins for certain products.



Financials (M)

Item 9m 2021 9m 2022 Change‬
Revenues 541.08 701.19 29.6 %
Gross Income 103.12 147.67 43.2 %
Operating Income 36.33 72.58 99.8 %
Net Income 25.09 54.32 116.5 %
Average Shares 1,125.00 1,125.00 -
EPS (Halala) 2.23 4.83 116.5 %

In Q3 2022, the net profit after Zakat and tax saw a 133% increase to SAR 23.6 million from SAR 10.1 million in the year before.

 

Sequentially the company’s net profit rose 27% from SAR 18.5 million in Q2 2022.



Current Quarter Comparison (M)

Compared With The
Item Q3 2021 Q3 2022 Change‬
Revenues 207.63 245.25 18.1 %
Gross Income 41.90 56.15 34.0 %
Operating Income 14.42 30.82 113.7 %
Net Income 10.14 23.60 132.8 %
Average Shares 1,125.00 1,125.00 -
EPS (Halala) 0.90 2.10 132.8 %

Total shareholders’ equity, after minority interest, grew to SAR 596.047 million as of Sept. 30, 2022, from SAR 567.612 million in the year-earlier period.

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