Dubai – Mubasher: Shuaa Capital turned to a consolidated net loss of AED 94.73 million during the first quarter (Q1) of 2024, versus a net profit of AED 19.66 million in the same quarter a year earlier.

Revenues dropped to AED 30.18 million in Q1-24 from AED 59.72 million in Q1-23, according to the interim financial results.

The company reported a loss per share of AED 0.03 in the three-month that ended on 31 March 2024, compared to earnings per share (EPS) of AED 0.01 in the corresponding period a year earlier.

In 2023, Shuaa Capital suffered a net loss of AED 866.13 million, a surge from AED 135.20 million in 2022.