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Al Ramz sees surge in Q1-22 profits

Al Ramz sees surge in Q1-22 profits
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Dubai – Mubasher: The net profits of Al Ramz Corporation Investment and Development hiked to AED 8.59 million in the first quarter (Q1) of 2022, compared to AED 150,000 in the year-ago period, according to the company's unaudited consolidated financials for the three-month period ended 31 March 2022.

The company's net finance income increased to AED 7.37 million in the first three months (3M) of 2022 from AED 5.02 million in the corresponding period of 2021.

The basic and diluted earnings per share (EPS) settled at AED 0.01 in Q1-22.

It is noteworthy to mention that in 2021, Al Ramz achieved AED 54.52 million net profits, compared to net losses of AED 10.87 million in 2020.