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Quara Finance Co. announces its Interim Financial results for the Period Ending on 2024-03-31 ( Three Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 49,151.594 | 49,466.784 | -0.637 | 43,806.02 | 12.202 |
| Gross Profit (Loss) | 46,950.809 | 46,677.023 | 0.586 | 41,807.959 | 12.301 |
| Operational Profit (Loss) | 14,891.133 | 15,479.4 | -3.8 | 2,683.064 | 455.004 |
| Net profit (Loss) | 12,572.304 | 12,335.367 | 1.92 | 5,624.753 | 123.517 |
| Total Comprehensive Income | 12,572.304 | 12,335.367 | 1.92 | 5,624.753 | 123.517 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (After Deducting the Minority Equity) | 405,094.635 | 351,070.992 | 15.388 |
| Profit (Loss) per Share | 0.42 | 0.41 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Percentage of the capital (%) | Amount | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | - | - | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | The increase in revenue during the current year compared to last year is mainly attributable to growing demand of financial products, the company was able to maintain a good Yield on the products over last year due to concentration on Retail products. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | N/A |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | N/A |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | N/A |
| Statement of the type of external auditor's report | Unmodified conclusion |
| 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) | N/A |
| Reclassification of Comparison Items | "Management has re-evaluated the presentation of certain balances in the statement of comprehensive income in the prior years as detailed below: a. During the year, management considered the above requirements and reclassified the “Management fees income” to “Murabaha income” and as a result, restated prior year financial statements. b. During the year, the Company reviewed its financial statements and as a result changed the presentation by reclassifying “recoveries of amount previously written off” from “Other income” and presented the amounts in the line item “Provision for Murabaha Losses” on the face of the statement of comprehensive income. |
| Additional Information | - |
| 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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