Publisher: Maaal International Media Company
License: 465734
National Gas and Industrialization Co. revealed a slight increase in net profit after zakat and tax during the third quarter, amounting to 57.2 million riyals, compared to 57 million riyals in the same quarter of last year, by 0.35%. This came after today’s announcement of the preliminary financial results for the period ending on September 30, 2023. (nine months).
Operating profit reached 31.9 million riyals in the third quarter, compared to 18.5 million riyals in the same quarter of the previous year, a growth of 72.4%.
Net profit after zakat and tax in the 9-month period amounted to 184.7 million riyals, compared to 159.4 million riyals in the same period last year, an increase of 15.8%.
Total shareholders’ equity (excluding minority rights) amounted to 1.83 billion riyals in the current period, compared to 1.69 billion riyals in the same period last year, an increase of 8.4%.
Earnings per share in the current period reached 2.46 riyals, compared to 2.13 riyals in the same period last year.
The increase in net profit by SR 0.2 million is mainly due to the followings:
– Increase in gross profit by SR 15 million as a result of the increase in revenues.
– Increase in the share of results of associates by SR 2 million.
– Increase in finance income by SR 1 million.
Despite the:
– Decrease in other income by SR 10 million.
– Decrease in investments income by SR 7 million.
– Increase operating expenses by SR 1 million.
The increase in net profit by SR 3 million is mainly due to the followings:
– Increase in gross profit by SR 4 million as a result of the increase in revenues.
– Increase in other income by SR 8 million.
– Increase in share of results of associates by SR 1 million.
Despite the decrease in investments income by SR 10 million.
The increase in net profit by SR 25 million is mainly due to the followings:
– Increase in gross profit by SR 29 million as a result of the increase in revenues.
– Decrease in operating expenses by SR 3 million due to the decrease in selling and distribution expenses.
– Increase in share of results of associates by SR 5 million.
– Increase in finance income by SR 1 million.
– Decrease in finance costs by SR 2 million.
Despite the decrease in:
– Other income by SR 11 million.
– Investments income by SR 5 million.