Obeikan Glass Co.’s Q1 2023 net profit fell by 39% to SAR 29.8 million, from SAR 49.1 million in the year-earlier period on lower selling prices, along with higher raw material costs as well as general and administrative expenses.
| Item | Q1 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 126.57 | 113.48 | (10.3 %) |
| Gross Income | 72.64 | 47.03 | (35.3 %) |
| Operating Income | 56.21 | 30.22 | (46.2 %) |
| Net Income | 49.06 | 29.81 | (39.2 %) |
| Average Shares | 32.00 | 32.00 | - |
| EPS (Riyals) | 1.53 | 0.93 | (39.2 %) |
| Item | Q4 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 111.89 | 113.48 | 1.4 % |
| Gross Income | 40.17 | 47.03 | 17.1 % |
| Operating Income | 21.68 | 30.22 | 39.4 % |
| Net Income | 23.22 | 29.81 | 28.4 % |
| Average Shares | 32.00 | 32.00 | - |
| EPS (Riyals) | 0.73 | 0.93 | 28.4 % |
The three-month net profit climbed 28.4% from SAR 23.22 million in Q4 2022.
Shareholders’ equity, no minority interest, rose to SAR 565.68 million as of March 31, 2023, from SAR 466.87 million in the year-earlier period.
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