Riyadh – Mubasher: Electrical Industries Company (EIC) posted an increase of 49.7% in net profits after Zakat and tax to SAR 10.13 million during the third quarter (Q3) of 2021 from SAR 6.77 million in Q3-20.

Revenues soared by 40% to SAR 207.63 million in Q3-21 from SAR 148.06 million in Q3-20, according to the interim financial results on Tuesday.

On a quarterly basis, the net profits in Q3-21 were 26.7% higher than SAR 7.99 million in Q2-21, and the revenues grew by 25% from SAR 165.61 million.

As for the first nine months of 2021, EIC turned profitable at SAR 25.09 million against losses worth SAR 3.95 million in the same period last year.

Earnings per share stood at SAR 0.56 in the January-September 2021 period, versus a loss per share of SAR 0.09 in the corresponding period in 2020.

Revenues surged by 36% to SAR 541.08 million in the nine-month period this year from SAR 397.2 million in the same nine months in 2020.