Alujain Corp. reported a net loss of SAR 7.2 million in Q1 2023, versus a net profit of SAR 55.8 million a year earlier, driven by 32% lower polypropylene (PP) prices and higher cost of finance.
| Item | Q1 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 509.37 | 397.06 | (22.0 %) |
| Gross Income | 160.13 | 43.64 | (72.7 %) |
| Operating Income | 89.26 | 9.50 | (89.4 %) |
| Net Income | 55.78 | (20.88) | (137.4 %) |
| Average Shares | 69.20 | 69.20 | - |
| EPS (Riyals) | 0.81 | (0.30) | (137.4 %) |
| Item | Q4 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 453.73 | 397.06 | (12.5 %) |
| Gross Income | 73.62 | 43.64 | (40.7 %) |
| Operating Income | 4.19 | 9.50 | 126.7 % |
| Net Income | (72.94) | (20.88) | 71.4 % |
| Average Shares | 69.20 | 69.20 | - |
| EPS (Riyals) | (1.05) | (0.30) | 71.4 % |
On a quarterly basis, the net loss shrank from SAR 18.19 million in Q4 2022 on a slight increase in selling prices and a reduction in selling, marketing and distribution (logistic) expenses.
Total shareholders’ equity, no minority interest, stood at SAR 2.63 billion as of March 31, 2023, compared to SAR 2.64 billion in a prior-year period.
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