Riyadh – Mubasher: Lumi Rental Company recorded net profits valued at SAR 160.62 million in 2023, an annual surge of 11.80% from SAR 143.66 million.

Revenues hiked by 41.26% to SAR 1.10 billion last year from SAR 782.63 million in the January-December 2022 period, according to the financial results.

The earnings per share(EPS) hit 2.92 as of 31 December 2023, up year-on-year (YoY) from SAR 2.61.

Furthermore, Lumi generated a net profit of 180.90 million excluding a one-off IPO employee incentive of 20.30 million.

In November 2023, the listed company and MachinesTalk penned a SAR 28 million deal to provide accurate information on vehicle movement.