Mubasher: Ithmaar Holding, which is also listed on Bahrain Bourse, turned to net losses attributable to the shareholders worth $4.48 million in the first nine months (9M) of 2023.
The negative results were incurred against net profits valued at $1.30 million in 9M-22, according to the financial results.
Net income hit $187.87 million in January-September 2023, down year-on-year (YoY) from $215.14 million.
The basic and diluted loss per share reached $0.15 as of 30 September, compared to earnings per share (EPS) of $0.04 a year earlier.
Total assets dropped to $5.58 billion in 9M-23 from $6.05 billion as of 31 December 2022.
Financials for Q3-23
In the third quarter (Q3) of 2023, the company turned profitable at $2.02 million, compared to net losses amounting to $7.77 million in the year-ago period.
The total income climbed to $194.84 million in Q3-23 from $171.76 million in Q3-22.
Basic and diluted profit per share stood at $0.07 during July-September 2023, against a loss per share of $0.27 in July-September 2022.
Accumulated Losses
The accumulated losses totalled $833.24 million as of 30 September 2023, representing 110% of the capital.
In the three-month period that ended on 31 March 2023, Ithmaar Holding suffered net losses attributable to the shareholders valued at $3 million, versus net profits of $1.13 million in Q1-22.
