Arabian Pipes Co. (APC) narrowed net loss after Zakat and tax to SAR 7.5 million in the first nine months of 2022, from SAR 28.9 million in the prior-year period.
| Item | 9m 2021 | 9m 2022 | Change |
|---|---|---|---|
| Revenues | 346.03 | 305.76 | (11.6 %) |
| Gross Income | 17.45 | 19.75 | 13.2 % |
| Operating Income | (13.76) | (10.99) | 20.2 % |
| Net Income | (28.94) | (7.52) | 74.0 % |
| Average Shares | 10.00 | 10.00 | - |
| EPS (Riyals) | (2.89) | (0.75) | 74.0 % |
The company said the decline in losses came on lower cost of sales margin and selling and distribution expenses.
APC reported a net profit after Zakat and tax of SAR 9.9 million in Q3 2022, against a net loss of SAR 16.8 million in the same quarter last year.
| Item | Q3 2021 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 92.61 | 175.42 | 89.4 % |
| Gross Income | (1.16) | 25.79 | 2315.5 % |
| Operating Income | (10.51) | 18.26 | 273.7 % |
| Net Income | (16.83) | 9.94 | 159.1 % |
| Average Shares | 10.00 | 10.00 | - |
| EPS (Riyals) | (1.68) | 0.99 | 159.1 % |
| Item | Q2 2022 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 70.04 | 175.42 | 150.5 % |
| Gross Income | (6.43) | 25.79 | 501.4 % |
| Operating Income | (11.59) | 18.26 | 257.5 % |
| Net Income | (4.25) | 9.94 | 333.8 % |
| Average Shares | 10.00 | 10.00 | - |
| EPS (Riyals) | (0.43) | 0.99 | 333.8 % |
On a sequential basis, the company turned to profit from a loss of SAR 4.25 million in Q2 2022.
Shareholders’ equity, no minority interest, stood at SAR 98.2 million as of Sept. 30, 2022, compared to SAR 177.4 million a year earlier.
Meanwhile, accumulated losses reached SAR 0.98 million at the end of the nine-month period, representing 0.98% of capital.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}