Riyadh – Mubasher: Nayifat Finance Company recorded a 22.08% drop in net profit after Zakat and tax to SAR 135.30 million during the first nine months (9M) of 2022, versus SAR 173.64 million in 9M-21.
The firm generated revenues worth SAR 293.61 million in the January-September 2022 period, down 0.04% year-on-year (YoY) from SAR 293.72 million, according to the initial income statements.
Likewise, the earnings per share (EPS) plummeted to SAR 1.35 in 9M-22 from SAR 1.74 in 9M-21.
During the third quarter (Q3) of 2022, the company’s net profits after Zakat and tax shrank by 27.05% to SAR 42.03 million, compared to SAR 57.62 million in Q3-21.
On the other hand, the revenues grew by 3.42% YoY to SAR 100.60 million in Q3-22 from SAR 97.27 million.
On a quarterly basis, the net profits after Zakat and tax in Q3-22 declined by 3.90% from SAR 43.74 million in Q2-22, whereas the revenues surged by 1.74% from SAR 98.88 million.
In the January-June 2022 period, the net profits after Zakat and tax of Nayifat amounted to SAR 93.26 million, lower by 19.61% than SAR 116.02 million during the same period a year earlier.
