Saudi Research & Media Group profits jump to SR205 mln during 3Q, up 168%

Saudi Research and Media Group net profit after zakat and tax jumped to SR204.9 million during the third quarter, compared to SR76.5 million during the same quarter of the previous year, at a rate of 167.8%.

This came after Saudi Research and Media Group announces its interim financial results for the period ending on 2021-09-30 (nine months).

The operational profit amounted to SR232.1 million during the third quarter, compared to SR108 million during the same quarter of the previous year, a growth of 102.18%.

The gross profit amounted to SR281 million during the third quarter, compared to SR114.8 million during the same quarter of the previous year, an increase of 80.19%.

The net profit after zakat and tax during the current period amounted to SR431 million, compared to SR216.5 million during the same period of the previous year, an increase of 99%.

Profits per share during the current period amounted to SR5.39, compared to SR2.71 during the same period of the previous year.

The increase in net profits for the current quarter compared to the same quarter of the previous year is mainly due to the increase in the gross profit, resulting mainly from the increase in revenues by 41.0%, noting that the direct costs for the current quarter increased compared to the same quarter of the previous year mainly due to operating costs of certain projects in line with the announced strategy.

The main reason for the increase in net profits for the current quarter compared to the previous quarter of the current year is due to the increase in the gross profit, resulting mainly from the increase in revenues by 15.8%, noting that the direct costs for the current quarter increased compared to the previous quarter of the current year mainly due to operating costs of certain projects in line with the announced strategy.

The increase in net profits for the current period compared to the same period of the previous year is due to the increase in the gross profit, resulting mainly from the increase in revenues by 29.8% noting that the direct costs for the current period increased compared to the same period of the previous year mainly due to operating costs of certain projects in line with the announced strategy.

The total revenue of the current quarter is SR813.9 million, compared to SR577.1 million for the same quarter of the previous year, an increase of 41.0%, and compared to 702.7 million in the previous quarter, an increase of 15.8%.

The total revenue of the current period is SR2,113.5 million compared to SR1,628.8 million for the same period of the previous year, an increase of 29.8%.

Total Comprehensive Income of the parent company for the current quarter is SR198.7 million compared to SR167.1 million for the same quarter of the previous year, an increase of 18.9%, and compared to SR112.9 million for the previous quarter of the current year, an increase of 76.0%.

The total shareholders equity for the parent company (after excluding non-controlling interest) by end of the current period is SR1,958.4 million compared to SR1,483.2 million for the same period of the previous year, with an increase of 32.0%, and compared to SR1,759.9 million by end of the previous quarter of the current year, an increase of 11.3%.

The retained earnings as of 30th of September 2021 is SR849.0 million.