Riyadh – Mubasher: The net profits of Nayifat Finance Company jumped by 29.61% year-on-year (YoY) to SAR 94.41 million in the first nine months (9M) of 2024 from SAR 72.84 million.
Revenues amounted to SAR 271.98 million in 9M-24, down 9.97% YoY from SAR 302.12 million, according to the initial financial results.
The earnings per share (EPS) climbed to SAR 0.79 as of 30 September 2024 from SAR 0.61 a year earlier.
Financials for Q3-24
In the third quarter (Q3) of 2024, the Saudi group posted 103.41% higher net profits at SAR 38.92 million, compared to SAR 19.13 million a year earlier.
Nayifat registered a 6.88% decline in revenue to SAR 92.93 million during July-September 2024, compared to SAR 99.80 million in Q3-23.
Quarterly, the Q3-24 net profits increased by 1.58% from the SAR 38.31 million generated in April-June 2024, while the revenues edged down by 0.39% from SAR 93.30 million.
