Riyadh – Mubasher: Dar Alarkan Real Estate Development Company logged net profits after Zakat and tax worth SAR 393.01 million in the first nine months (9M) of 2022, an annual leap of 416.24% from SAR 76.13 million.
The Saudi firm registered SAR 3.03 billion in revenue during the January-September 2022 period, up 76.94% year-on-year (YoY) from SAR 1.71 billion, according to the interim financial results.
Furthermore, the earnings per share (EPS) increased to SAR 0.36 in 9M-22 from SAR 0.07 in 9M-21.
During the third quarter (Q3) of 2022, the company’s net profit after Zakat and tax amounted to SAR 79.42 million, higher by 215.53% YoY than SAR 25.17 million.
Revenues jumped by 24.71% to SAR 742.54 million in Q3-22 from SAR 595.41 million in Q3-21.
On a quarterly basis, the Q3-22 earnings plummeted by 14.21% from SAR 92.58 million in Q2-22, whereas the revenues grew by 9.53% from SAR 677.95 million.
In the first half (H1) of 2022, the net profits after Zakat and tax of Dar Alarkan hiked by 515.38% to SAR 313.60 million, compared to SAR 50.96 million in H1-21.
