Edarat Profits Rise 42% to SAR 24.6 Million by End of 2024

Edarat Communication and Information Technology Co. (EDARAT) announced on Sunday that its net profit increased to SAR 24.66 million during the year ending in 2024, compared to SAR 17.3 million in 2023 by 42%, following the announcement today of the annual financial results ending on Dec. 31, 2024.

Operational profit amounted to SAR 28 million during the year ending on Dec. 31, 2024, compared to SAR 20 million in the year before last, with a growth of 40%.

Earnings per share in the past year amounted to SAR 9.79, compared to SAR 6.89 in the year before last.

The Company stated in a statement that revenues increased by 30.32% to reach SAR 104.57 million in 2024 compared to SAR 80.24 million in 2023, indicating that the main contributor to this growth is the cloud management platform, as it witnessed a 61% increase in its revenues year-on-year during 2024 compared to 2023. In addition, the company recorded an 11% increase in revenues year-on-year from data centre operations.