Saudi Azm for Communication and Information Technology Co. announces its Interim Financial results for the period ending on 2023-12-31 ( Six Months )
- Date: 27-Feb-2024
- Source: Mubasher
- Sector:Technology
- Country:Saudi Arabia
Saudi Azm for Communication and Information Technology Co. announces its Interim Financial results for the period ending on 2023-12-31 ( Six Months )
|Element List||Current Period||Similar period for previous year||%Change|
|Sales/Revenue||107,417,141||102,920,587||4.368|
|Net profit (Loss)||14,030,961||11,301,711||24.148|
|Total Share Holders Equity (After Deducting the Minority Equity)||82,631,924||57,730,328||43.134|
|Profit (Loss) per Share||0.23||0.18|
|All figures are in (Actual) Saudi Arabia, Riyals|
|Element List||Percentage of the capital (%)||Amount|
|Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value||-||-|
|All figures are in (Actual) Saudi Arabia, Riyals|
|Element List||Explanation|
|The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is||Revenue was increased by 4.4% to reach SR 107.4 million compared to the corresponding period of previous year, primarily as a result of securing new projects.|
|The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is|| Saudi AZM for Communication and Information Technology Co. achieved a net profit of SR 14.03 million in the first half of the year, increased by SR 2.73 million (24%) as compared to the corresponding period of previous year. The increase was mainly driven by the following:
|
- Increase in gross profit by SR 3.2 million as a result of increase in revenue.
- Increase in other income by SR 1.36 million.
Despite the:
- Increase in operating expenses by SR 0.53 million.
- Decrease