SAIC Profits Rise 75.3% to SAR 68.2 Million in Q3 2024

Saudi Advanced Industries Co. (SAIC) revealed on Sunday an increase in net profit during the third quarter to 68.2 million riyals, compared to 38.9 million riyals in the same quarter of the previous year by 75.3%, following the announcement today of the preliminary financial results for the duration ending September 30, 2024 (nine months).

Operating profit increased 79.4% to 73.3 million riyals in the third quarter, compared to 40.8 million riyals in the same quarter of the previous year.

Total equity (after excluding non-controlling interests) increased 26.7% to 1.22 billion riyals in the 9-month period, compared to 962.4 million riyals in the same duration of the previous year.

Earnings per share in the current period reached 4.84 riyals, compared to 1.88 riyals in the same duration of the previous year.