Riyadh – Mubasher: Lazurde Company for Jewelry posted a net profit after Zakat and tax of SAR 43.50 million in the first nine months (9M) of 2023, up by 38.53% from SAR 31.40 million in the same period of 2022.
The earnings per share (EPS) increased to SAR 0.76 in 9M-23, compared to SAR 0.55 in 9M-22, according to the preliminary financial statements.
The company, meanwhile, recorded a 3.75% decline in revenue to SAR 1.55 billion in January-September 2023 from SAR 1.61 billion in the same period of 2022.
Financial Results for Q3
In the third quarter (Q3) of 2023, the listed firm reported a net profit after Zakat and tax of SAR 24.60 million, a surge of 167.39% from SAR 9.20 million in Q3-22.
The revenues grew by 0.68% to SAR 577.80 million in July-September 2023 from SAR 573.90 million in the same quarter a year earlier.
On a quarterly basis, the net profit in Q3-23 increased by 241.67% from SAR 7.20 million in Q2-23, while the revenues rose by 20.93% from SAR 477.80 million.
In Q1-23, the Saudi firm achieved a net profit of SAR 11.60 million and revenues of SAR 496.30 million.
