Lumi Q3 Profits Rise 14.7% to SAR 40.1 Million

Lumi Rental Co. announced on Monday that net profit increased by 14.7% to 40.1 million riyals during the third quarter of 2024, compared to 34.9 million riyals in the same quarter last year, following the announcement today of the estimated financial results for the duration ending Sep. 30, 2024 (9 months).

Operational profit increased by 44.1% to 76.4 million riyals in the third quarter of 2024, compared to 53 million riyals in the same quarter last year.

Profits per share amounted to 2.38 riyals in the third quarter of 2024, compared to 2.45 riyals in the same quarter last year.

According to the company, net profit increased by 15% year-on-year to 40 million riyals in the third quarter of 2024.

Gross profit increased by 22% year-on-year to SAR 116 million in Q3 2024.

Finance cost increased by 2.2% to SAR 35 million in Q3 2024, due to increased borrowing levels.