East Pipes Integrated Company for Industry announces its Annual Financial results for the period ending on 2024-03-31

26 May 2024 07:10 AM

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Element List	Current Year	Previous Year	%Change
Sales/Revenue	1,543,167,801	1,438,646,383	7.26
Gross Profit (Loss)	350,559,221	155,799,702	125.01
Operational Profit (Loss)	324,014,024	133,036,710	143.55
Net profit (Loss)	267,507,881	99,920,835	167.72
Total Comprehensive Income	267,972,440	100,450,678	166.77
Total Share Holders Equity (After Deducting the Minority Equity)	851,913,246	615,440,806	38.42
Profit (Loss) per Share	8.49	3.17
All figures are in (Actual) Saudi Arabia, Riyals

Element List	Amount	Percentage of the capital (%)
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value	-	-
All figures are in (Actual) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year	East Pipes recorded revenue of SAR 1.5 billion in FY2023-24, compared to a revenue of SAR 1.4 billion in FY2022-23. This is mainly resulting from the increase in average sales prices per Ton.
The reason of the increase (decrease) in the net profit during the current year compared to the last year is	The company recorded net profit of SAR 268 million in FY2023-24, compared to a profit of SAR 100 million in FY2022-23, as a result of a sustained rise in average sales prices as well as the decrease in cost of production per Ton.
Statement of the type of external auditor's report	Unmodified opinion
Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion)	None.
Reclassification of Comparison Items	None.
Additional Information	-
Attached Documents

East Pipes concludes FY24 with a remarkable financial performance, witnessing a notable improvement in profitability and margins