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

PHOTO
A woman uses her camera near a trading board at the Dubai Stock Exchange in the Dubai World Trade Center. Ahmed Jadallah, Reuters Image for illustrative purposes.

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.