UAE: Al Ramz Corporation’s net profits exceed $2.4mln in 9M-24

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Al Ramz Corporation Investment and Development logged net profits valued at AED 9.20 million in the first nine months (9M) of 2024, compared with AED 21.62 million in 9M-23.

Net finance income hit AED 35.09 million in 9M-24, up year-on-year (YoY) from 33.35 million.

Basic and diluted earnings per share (EPS) fell to AED 0.017 as of 30 September 2024 from AED 0.039 in 9M-23.

Total assets amounted to EGP 1.48 billion as of 30 September 2024, versus EGP 1.23 billion at the end of December 2023.

Financials for Q3-24

In the third quarter (Q3) of 2024, the company's net profits plummeted to AED 6.84 million from AED 7.88 million in Q3-23.

The basic and diluted EPS retreated to AED 0.012 in Q3-24 from AED 0.014 a year earlier, while the net finance income shrank to AED 11.45 million from AED 11.60 million.

During the January-March 2024 period, Al Ramz Corporation witnessed lower net profits at AED 1.61 million, compared to AED 7.32 million in Q1-23.