Riyadh – Mubasher: Electrical Industries Company (EIC) gained net profits of SAR 6.771 million in the third-quarter (Q3) of the year, compared with SAR 1.502 million a year earlier,
The rise in profits was driven by higher sales, lower Zakat and financial expenses, coupled with a decrease in selling and distribution as well as general and administrative expenses, according to a bourse disclosure on Tuesday.
Revenues jumped by 11.5% annually to SAR 148.1 million over the July-September period.
During the first nine months of 2020, the profits totalled SAR 3.957 million, compared to SAR 7.384 million in the prior-year period.
