Arabian Internet and Communication Services Co. (solutions) posted a net profit after Zakat and tax of SAR 283 million for Q1 2022, a rise of 38% compared with SAR 205 million a year earlier.
The profit growth was mainly due to the increase in gross profit by SAR 104 million as a result of the rise in total revenue by SAR 552 million, which was offset by higher cost of revenue
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 1,866.79 | 2,242.90 | 20.1 % |
| Gross Income | 389.38 | 493.53 | 26.7 % |
| Operating Income | 224.29 | 312.95 | 39.5 % |
| Net Income | 205.20 | 282.91 | 37.9 % |
| Average Shares | 120.00 | 120.00 | - |
| EPS (Riyals) | 1.71 | 2.36 | 37.9 % |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 1,452.88 | 2,242.90 | 54.4 % |
| Gross Income | 423.73 | 493.53 | 16.5 % |
| Operating Income | 127.78 | 312.95 | 144.9 % |
| Net Income | 114.43 | 282.91 | 147.2 % |
| Average Shares | 120.00 | 120.00 | - |
| EPS (Riyals) | 0.95 | 2.36 | 147.2 % |
On a sequential basis, Q1 2022 net profit more than doubled from SAR 114 million.
Total shareholders’ equity, excluding minority interest, reached SAR 2.535 billion at the end of the period, compared with SAR 1.808 billion a year earlier.
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