Saudi: eXtra’s net profits exceed $70.4mln in 9M-23

Riyadh – United Electronics Company (eXtra) generated SAR 264.30 million in net profit after Zakat and tax during the first nine months (9M) of 2023.

The recorded net profits were lower by 17.09% year-on-year (YoY) than SAR 318.79 million, according to the estimated financial results.

Revenues amounted to SAR 4.63 billion in January-September 2023, up 3.42% from SAR 4.48 billion in 9M-22.

The earnings per share (EPS) retreated to SAR 3.30 in 9M-23 from SAR 3.98 a year earlier.

Financial Statements for Q3

In the third quarter (Q3) of 2023, the Tadawul-listed firm logged net profits after Zakat and tax valued at SAR 118.20 million, an annual surge of 25.53% from SAR 94.16 million.

The company posted a 5.66% rise in revenue to SAR 1.45 billion during Q3-23, compared to SAR 1.37 billion in the July-September 2022 period.

On a quarterly basis, the net profits in Q3-23 enlarged by 91.67% from SAR 61.67 million in Q2-23, while the revenues dropped by 17.11% from SAR 1.74 billion.

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