Riyadh – Mubasher: Al Abdullatif Industrial Investment Company has reported a 176.48% year-on-year (YoY) leap in net loss after Zakat and tax to SAR 12.11 million during the first quarter (Q1) of 2022 from SAR 4.38 million.

The company registered SAR 181.65 million in revenue during Q1-22, up 17.87% from SAR 154.10 million in Q1-21, according to the initial financial results on Monday.

Meanwhile, the loss per share stood at SAR 0.15 in the first three months (3M) of 2022, higher than SAR 0.05 in the year-ago period.

On a quarterly basis, the revenues in Q1-22 edged up by 0.72% from SAR 180.34 million in Q4-21, while the net losses dropped by 67.97% from SAR 37.81 million.

In 2021, the Saudi listed firm registered net losses after Zakat and tax worth SAR 47.75 million, an annual surge of 92.30% from SAR 24.83 million.