Riyadh – Mubasher: Arabian Pipes Company has achieved net profits after Zakat and tax of SAR 46.60 million in the first half (H1) of 2023, against net losses of SAR 17.40 million in the year-ago period.
The revenues skyrocketed by 271.90% year-on-year (YoY) to SAR 495 million in H1-23 from SAR 133.10 million, according to the interim financial results.
Earnings per share (EPS) reached SAR 4.66 in January-June 2023, compared to a loss per share worth SAR 1.75 during the same period in 2022.
Financial Results for Q2-23
In the second quarter (Q2) of 2023, the net profits after Zakat and tax reached SAR 33.20 million, compared to a net loss of SAR 4.20 million in Q2-22.
Meanwhile, the company recorded revenues amounting to SAR 265 million in the April-June 2023 period, an annual leap of 278.57% from SAR 70 million.
On a quarterly basis, the Q2-23 net profits jumped by 149.62% from SAR 13.30 million in Q1-23, while the revenues increased by 15.22% from SAR 230 million.
