Riyadh – Mubasher: Elm Company logged a 7.14% year-on-year (YoY) increase in net profit to SAR 345 million in the first quarter (Q1) of 2024 from SAR 322 million.

Revenues leapt 27.25% YoY to SAR 1.63 billion in Q1-24 from SAR 1.28 billion, according to the interim financial results.

The earnings per share (EPS) reached SAR 4.44 in the three-month period that ended on 31 March 2024, up from SAR 4.15 in the corresponding period a year earlier.

Quarter-on-quarter (QoQ), the company’s net profit grew 5.50% in Q1-24 from SAR 327 million in Q4-23, while the revenues declined by 2.72% from SAR 1.68 billion.

In 2023, Elm posted a 45.81% YoY jump in consolidated net profit to SAR 1.35 billion in 2023 from SAR 930 million.