Riyadh - Mubasher: Walaa Cooperative Insurance Company shifted to net losses after Zakat attributable to the shareholders valued at SAR 67.95 million in the first quarter (Q1) of 2025, compared to net profits of SAR 39.86 in Q1-24.
Meanwhile, the insurance revenues increased by 2.75% year-on-year (YoY) to SAR 788.21 million in Q1-25 from SAR 767.07 million, according to the financial results.
The loss per share hit SAR 0.53 as of 31 March 2025, against earnings per share (EPS) worth SAR 0.39 in the same period a year ago.
On a quarterly basis, the Q1-25 net loss deepened by 238.07% from SAR 20.09 million in Q4-24, while the revenues dropped by 10.82% from SAR 883.89 million.
As of 31 December 2024, Walaa Cooperative recorded net profits of SAR 64.30 million compared to SAR 147.97 million in 2023.
