Saudi Industrial Development Co. (SIDC) reported a net loss after Zakat of SAR 10 million for the first quarter of 2020, from a net profit of SAR 3 million, a year earlier.
The net loss was attributed to higher operating losses affected by lower sales in addition to realizing non-operating losses.
When compared to previous quarter, net loss after Zakat narrowed over 72-fold on lower operating expenses.
| Item | Q1 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 50.10 | 40.30 | (19.6 %) |
| Gross Income | 8.93 | 7.84 | (12.3 %) |
| Operating Income | (3.23) | (4.31) | (33.5 %) |
| Net Income | 3.00 | (10.02) | (434.6 %) |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | 0.07 | (0.25) | (434.6 %) |
| Item | Q4 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 41.47 | 40.30 | (2.8 %) |
| Gross Income | 6.05 | 7.84 | 29.4 % |
| Operating Income | (16.76) | (4.31) | 74.3 % |
| Net Income | (36.23) | (10.02) | 72.3 % |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | (0.91) | (0.25) | 72.3 % |
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