Tasnee’s net profits shrink 63.5% in 9M-24 - Mubasher Info

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Riyadh – Mubasher: The net profits of National Industrialization Company (Tasnee) dropped by 63.58% year-on-year (YoY) to SAR 69.80 million in the first nine months (9M) of 2024, versus SAR 191.70 million.

Revenues hit SAR 2.79 billion in the January-September 2024 period, higher by 7.19% YoY than SAR 2.60 billion, according to the initial financial results.

The earnings per share (EPS) retreated to SAR 0.10 in 9M-24 from SAR 0.29 a year earlier.

Financials for Q3-24

In the third quarter (Q3) of 2024, the Saudi group posted 13.81% higher net profits at SAR 89 million, compared to SAR 78.20 million a year earlier.

Tasnee registered a 23.72% surge in revenue to SAR 1.02 billion during July-September 2024, compared to SAR 831.90 million in Q3-23.

Quarterly, the Q3-24 net profits hiked by 68.56% from the SAR 52.80 million recorded in April-June 2024, while the revenues grew by 2.20% from SAR 1 billion.

Source: Mubasher Source: {{details.article.source}}