Saudi Tadawul Group’s net profit jumps 122% YoY in Q1-24

Saudi Tadawul Group’s net profit jumps 122% YoY in Q1-24

Riyadh – Mubasher: The net profits of Saudi Tadawul Group Holding Company surged 121.91% year-on-year (YoY) to SAR 201.50 million in the first quarter (Q1) of 2024 from SAR 90.80 million. Revenues leapt 72.80% YoY to SAR 387.60 million in Q1-24 from SAR 224.30 million, according to the interim financial results. The earnings per share (EPS) hit SAR 1.68 in the three-month period that ended on 31 March 2024, from SAR 0.76 in the corresponding period a year earlier. Quarter-on-quarter (QoQ), the company’s net profit jumped 119.49% in Q1-24 from SAR 91.80 million in Q4-23, while the revenues rose by 37.39% from SAR 282.10 million. In 2023, Saudi Tadawul’s net profit went down by 8.12% YoY to SAR 390.10 million from SAR 424.60 million.

Saudi Tadawul Group’s net profit jumps 122% YoY in Q1-24