Riyadh – Mubasher: The net profits after Zakat and tax of Dar Alarkan Real Estate Development Company hiked by 674.96% year-on-year (YoY) to SAR 221.02 million in the first quarter (Q1) of 2022 from SAR 28.52 million.

The company generated revenues of SAR 1.61 billion in Q1-22, up 191.85% from SAR 554.84 million in the year-ago period, according to the company's interim financials.

The earnings per share (EPS) stood at SAR 0.2 in the first three months (3M) of 2022, versus SAR 0.03 in the same period of 2021.

It is noteworthy to mention that in 2021, the company's net profits after Zakat and tax surged by 605.26% to SAR 132.52 million, compared to SAR 18.79 million in 2020.