Lazurde’s net profit surges 141% YoY in Q1-24

Lazurde’s net profit surges 141% YoY in Q1-24



Riyadh – Mubasher: The net profits of Lazurde Company for Jewelry surged by 141.37% year-on-year (YoY) to SAR 28 million in the first quarter (Q1) of 2024 from SAR 11.60 million.

Revenues grew 9.91% YoY to SAR 545.50 million in Q1-24 from SAR 496.30 million, according to the interim financial results.

The earnings per share (EPS) reached SAR 0.49 in the three-month period that ended on 31 March 2024, from SAR 0.20 in the corresponding period a year earlier.

Quarter-on-quarter (QoQ), the company shifted to profitability in Q1-24, after recording a net loss of SAR 12.60 million in Q4-23, while the revenues jumped 49.45% from SAR 365 million.

In 2023, The net profits of Lazurde Company for Jewelry shrank by 9.94% YoY to SAR 30.80 million in 2023 from SAR 34.20 million.

Lazurde’s net profit surges 141% YoY in Q1-24