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East Pipes Integrated Company for Industry announces its Interim Financial Results for the Period Ending on 31-12-2022 ( Nine Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 487,249,090 | 133,249,622 | 265.67 | 303,078,780 | 60.77 |
| Gross Profit (Loss) | 69,547,495 | -7,534,069 | - | 14,941,096 | 365.48 |
| Operational Profit (Loss) | 60,613,681 | -14,434,295 | - | 13,687,155 | 342.85 |
| Net Profit (Loss) after Zakat and Tax | 47,523,974 | -18,839,834 | - | 9,224,842 | 415.17 |
| Total Comprehensive Income | 47,660,229 | -18,745,814 | - | 9,444,539 | 404.63 |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 996,354,041 | 403,747,976 | 146.78 |
| Gross Profit (Loss) | 103,379,996 | 12,871,435 | 703.17 |
| Operational Profit (Loss) | 86,166,837 | -194,111 | - |
| Net Profit (Loss) after Zakat and Tax | 62,981,626 | -17,565,963 | - |
| Total Comprehensive Income | 63,540,940 | -17,390,015 | - |
| Total Share Holders Equity (after Deducting Minority Equity) | 578,531,068 | 500,227,055 | 15.65 |
| Profit (Loss) per Share | 2 | -0.56 | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | During the third quarter of fiscal year 2023 (3Q-FY23), the company's net profit increased to SAR 47.5 million, compared to a net loss of SAR 18.8 million in 3Q-FY22 due to the following reasons: 1 - Increased sales volumes and better average realized sales price, leading to a significant increase in both revenues and gross profit. 2- Decrease in the cost of sales, due to a reduction in the average cost per ton of the company’s main raw materials. 3- A decline in the provision of customers' receivables, as a result of improved collections from customers. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is | The company's net profit increased to SAR 47.5 million in 3Q-FY23, compared to SAR 9.2 million in 2Q-FY23, due to the following reasons: 1. An increase in sales volumes. 2. A decline in average cost per ton of the company’s main raw materials. 3. A decrease in the provision for customers' receivables. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | The company's net profit amounted to SAR 63 million for the current period of fiscal year 2023 (9M-FY23), compared to a net loss of SAR 17.6 million in 9M-FY22, due to the following reasons: 1. Increased sales volumes and average realized sales prices, which resulted in a rise in both revenues and gross profit. 2. Decrease in the provision of customers’ receivables. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Reclassification of Comparison Items | None |
| Attached Documents |  |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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