Saudi: Taiba Investments posts nearly 70% higher profits in 9M-24

The net profits of Taiba Investments Company jumped by 69.76% year-on-year (YoY) to SAR 243.63 million in the first nine months (9M) of 2024 from SAR 143.51 million.

The Tadawul-listed firm posted revenues amounting to SAR 977.99 million in January-September 2024, an annual leap of 171.27% from SAR 360.51 million, according to the interim financial statements.

Moreover, the ernings per share (EPS) increased to SAR 0.94 in 9M-24 from SAR 0.89 in 9M-23.

Financials for Q3-24

In the third quarter (Q3) of 2024, the Saudi company recorded 9.96% YoY higher net profits at SAR 59.26 million, compared to SAR 53.89 million.

Taiba Investments registered a 126.71% hike in revenue to SAR 268.52 million during the three-month period that ended on 30 September 2024, versus SAR 118.44 million in Q3-23.

Quarterly, the Q3-24 net profits shrank by 32.27% from the SAR 87.50 million reported in Q2-24, while the revenues dropped by 28.85% from SAR 377.40 million.

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