Saudi Research and Media Group (SRMG) reported a net profit after Zakat and tax of SAR 91.5 million for Q1 2021, a rise of 41% compared to SAR 64.7 million in the year earlier-period.
The company attributed the net profit growth to the increase in gross profit, resulting mainly from the rise in revenues by 20.5%.
Direct costs for the current quarter grew compared to the same quarter of the previous year due to operating costs of certain projects.
| Item | Q1 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 495.25 | 596.81 | 20.5 % |
| Gross Income | 152.84 | 208.41 | 36.4 % |
| Operating Income | 61.38 | 115.61 | 88.3 % |
| Net Income | 64.73 | 91.53 | 41.4 % |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 0.81 | 1.14 | 41.4 % |
| Item | Q4 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 631.26 | 596.81 | (5.5 %) |
| Gross Income | 193.96 | 208.41 | 7.4 % |
| Operating Income | 65.70 | 115.61 | 76.0 % |
| Net Income | 29.20 | 91.53 | 213.5 % |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 0.36 | 1.14 | 213.5 % |
When compared to the previous quarter, the net profit after Zakat and tax jumped 213.4% in Q1 2021.
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