Financial Results : Saudi Chemical falls marginally to SAR 32.3 mln in Q1 2023

Saudi Chemical falls marginally to SAR 32.3 mln in Q1 2023

14/05/2023 Argaam Exclusive

View other reports

Saudi Chemical Holding Co. (SCHC) posted a net profit of SAR 32.3 million in Q1 2023, a slight decline from SAR 32.7 million a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2022 Q1 2023 Change‬
Revenues 903.99 1,039.32 15.0 %
Gross Income 127.49 152.22 19.4 %
Operating Income 57.31 69.91 22.0 %
Net Income 32.71 32.27 (1.3 %)
Average Shares 843.20 843.20 -
EPS (Riyals) 0.04 0.04 (1.3 %)

The minor decline in profit was attributed to increased finance costs, higher Zakat provision and revaluation loss on derivative financial instruments related to interest rate exposure, despite the increase in operating profit due to higher sales and a fall in foreign currency revaluation loss.

 

Sequentially, net profit rose 37.9% from SAR 23.4 million in Q4 2022.

 

Shareholders’ equity, excluding minority interest, increased to SAR 1.69 billion as of March 31, 2023, compared to SAR 1.65 billion a year earlier.

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.


Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.