SAIC records 157% higher net profits in 9M-24

SAIC
2120 5.66% 37.35 2.00

Riyadh – Mubasher: Saudi Advanced Industries Company (SAIC) registered SAR 285.53 million in net profit during the first nine months (9M) of 2024, an annual leap of 156.84% from SAR 111.17 million.

Revenues amounted to SAR 322.26 million in the January-September 2024 period, higher by 10.02% year-on-year (YoY) than SAR 124.97 million, according to the estimated income statements.

Earnings per share (EPS) hit SAR 4.84 in 9M-24, compared to SAR 1.88 in 9M-23.

Financials for Q3-24

In the third quarter (Q3) of 2024, SAIC witnessed 75.37% YoY higher net profits at SAR 68.29 million, compared to SAR 38.94 million.

The Saudi company posted a 75.47% hike in sales to SAR 80.77 million during the three-month period that ended on 30 September 2024, versus SAR 46.03 million.

Quarterly, the net profits in Q3-24 plunged by 37.07% from SAR 108.52 million in Q2-24, whereas the revenues dropped by 32.46% from SAR 119.60 million.

Source: Mubasher Source: {{details.article.source}}