Riyadh – Mubasher: Electrical Industries Company (EIC) logged net profits valued at SAR 297.19 million in the first nine months (9M) of 2024, marking an annual leap of 109.93% from SAR 141.56 million.
EIC posted revenues worth SAR 1.54 billion in 9M-24, higher by 34.45% than SAR 1.14 billion in 9M-23, according to the initial financial results.
The earnings per share (EPS) grew year-on-year (YoY) to SAR 0.27 as of 30 September 2024 from SAR 0.13.
Financials for Q3-24
In the third quarter (Q3) of 2024, the Saudi company posted a 115.06% hike in net profit to SAR 121.35 million, compared to SAR 56.42 million in the year-ago period.
The revenues hit SAR 505.84 million in the July-September 2024 period, an annual rise of 28.83% from SAR 392.64 million.
Quarterly, the Q3-24 net profits climbed by 20.61% from SAR 100.61 million in Q2-24, while the revenues grew by 2.21% from SAR 494.88 million.
