Riyadh – Mubasher: The net profit after Zakat attributable to the shareholders of Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) rose by 1.30% year-on-year (YoY) to SAR 332.34 million in 2024, compared with SAR 328.06 million.
The company’s insurance revenue surged by 27.26% YoY to SAR 5.39 billion last year from EGP 4.23 billion in 2023, according to the annual financial statements.
The earnings per share (EPS) reached SAR 3.32 in the 12-month period that ended on 31 December 2024, up from SAR 3.28 in 2023.
It is worth noting that in the first nine months (9M) of 2024, Al Rajhi Takaful achieved a 29.37% growth in net profit after Zakat to SAR 283.38 million from SAR 219.03 million in 9M-23.
The EPS rose to SAR 2.83 as of 30 September 2024, compared to SAR 2.19 in the corresponding period a year earlier.
Moreover, the insurance revenue soared by 36.87% to SAR 4.05 billion during the January-September 2024 period from SAR 2.96 billion in 9M-23.
As for the third quarter (Q3) of 2024, Al Rajhi Takaful posted a marginal increase of 0.39% in net profit after Zakat to SAR 82.25 million compared with SAR 81.93 million in Q3-23. In addition, the insurance revenue increased by 21.78% to SAR 1.40 billion from SAR 1.15 billion.
