Mubasher: The consolidated financial statements of Naeem Holding for Investment registered net profits of $652,353 during the first nine months of 2020, compared to $2.4 million net losses in the same period of 2019.
The company's total revenues increased to $7.22 million in the January-September period of 2020 from $5.62 million in the year-ago period.
In the standalone financial results, the company's net losses reached $2.3 million in the January-September period of 2020, up from $1.34 million in the prior-year period.
Meanwhile, the company incurred accumulated losses of $54.2 million as of the third quarter (Q3) of 2020, representing 20.49% of the capital.
It is noteworthy to mention that in the first half (H1) of 2020, the company has shown net losses of $1.68 million, compared to net losses of $236,958 in the same period of 2019.