Riyadh – Mubasher: Seera Group Holding has reported net losses after Zakat and tax worth SAR 63 million in the first quarter (Q1) of 2022, an annual drop of 51.90% from SAR 131 million.

In the first three months (3M) of 2022, the company’s revenues surged by 165.05% to SAR 493 million from SAR 186 million during the same period a year earlier, according to a bourse filing on Monday.

Meanwhile, the loss per share stood at SAR 0.21 in Q1-22, versus SAR 0.43 in Q1-21.

On a quarterly basis, revenues in Q1-22 edged up by 1.23% from SAR 487 million in Q4-21, while the net losses decreased by 39.42% from SAR 104 million.

Last year, Seera suffered net losses after Zakat and tax of SAR 378 million, compared to net profits of SAR 11 million in 2020.