Riyadh – Mubasher: Dur Hospitality Company posted a 47.46% year-on-year (YoY) plunge in net profit after Zakat and tax to SAR 16.98 million during the first quarter (Q1) of 2023, versus SAR 32.32 million.

Revenues stood at SAR 168.15 million during January-March 2023, up 15.44% from SAR 145.66 million in Q1-22, according to interim financial results.

The earnings per share (EPS) dropped to SAR 0.17 during Q1-23 from SAR 0.32 in the year-ago period.

On a quarterly basis, the Q1-23 net profits after Zakat and tax plummeted by 55.29% from SAR 37.99 million in Q4-22, while the revenues declined by 5.16% from SAR 177.29 million.

During the 12-month period that ended on 31 December 2022, Dur Hospitality generated SAR 40.16 million in net profit after Zakat and tax, higher by 3,263% YoY than SAR 1.19 million.