East Pipes Integrated Co. reported a net loss of SAR 18.6 million in the first quarter ended June 30, 2023, against a net profit of SAR 6.2 million in the year-earlier period.
| Item | Q1 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 206.03 | 38.85 | (81.1 %) |
| Gross Income | 18.54 | (6.32) | (134.1 %) |
| Operating Income | 11.92 | (11.42) | (195.8 %) |
| Net Income | 6.23 | (18.56) | (397.8 %) |
| Average Shares | 31.50 | 31.50 | - |
| EPS (Riyals) | 0.20 | (0.59) | (397.8 %) |
| Item | Q4 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 442.29 | 38.85 | (91.2 %) |
| Gross Income | 52.42 | (6.32) | (112.1 %) |
| Operating Income | 46.37 | (11.42) | (124.6 %) |
| Net Income | 36.94 | (18.56) | (150.2 %) |
| Average Shares | 31.50 | 31.50 | - |
| EPS (Riyals) | 1.17 | (0.59) | (150.2 %) |
This was due to a decline in sales volume in the current period and a slight increase in financing costs on higher SAIBOR rates.
The company reported revenues of SAR 39 million in the three-month period, down 81.1% from SAR 206 million a year earlier.
Compared to the previous quarter, the firm swung to a loss from a SAR 36.94 million profit.
Shareholders’ equity, with no minority interest, increased to SAR 597.18 million by the end of the first quarter, from SAR 521.42 million a year earlier.
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}}