Riyadh –  The net losses after Zakat and tax of Zamil Industrial Investment Company hiked by 194.44% to SAR 231.07 million in the first nine months (9M) of 2023 from SAR 78.47 million in 9M-22.

Loss per share reached SAR 3.85 in 9M-23, compared to SAR 1.35 in 9M-22, according to the initial financial results.

The firm recorded an 18.33% year-on-year (YoY) surge in revenue to SAR 3.39 billion during the January-September 2023 period, versus SAR 2.86 billion.

Income Results for Q3-23

In the third quarter (Q3) of 2023, the company turned to net losses after Zakat and tax valued at SAR 33.16 million, against net profits of SAR 2.43 million in Q3-22.

Revenues jumped by 21.21% YoY to SAR 1.22 billion in Q3-23 from SAR 1.01 billion.

On a quarterly basis, the Q3-23 losses plummeted by 81.98% from SAR 184.09 million in Q2-23, while the revenues increased by 8.92% from SAR 1.12 billion.

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