Riyadh – Mubasher: Dar Alarkan Real Estate Development Company generated SAR 117.63 million in net profit after Zakat and tax during the first quarter (Q1) of 2023.
The registered net profits were lower by 46.78% than SAR 221.02 million in Q1-22, according to the initial financial results.
Dar Alarkan posted revenues amounting to SAR 764.32 million in January-March 2023, an annual plunge of 52.80% from SAR 1.61 billion.
Earnings per share (EPS) declined to SAR 0.11 during Q1-23 from SAR 0.20 in the year-ago period.
On a quarterly basis, the Q1-23 net profits after Zakat and tax hiked by 141.49% from SAR 48.71 million in Q4-22, while the revenues shrank by 13.70% from SAR 885.69 million.
During the 12-month period that ended on 31 December 2023, the Saudi firm recorded a 233.32% leap in net profit after Zakat and tax to SAR 441.72 million, compared to SAR 132.52 million in 2021.
