Theeb Rent a Car profit falls 24% to SAR 26 mln in Q1 2021

Theeb Rent a Car profit falls 24% to SAR 26 mln in Q1 2021

09/05/2021 Argaam Exclusive

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Theeb Rent a Car Co. reported net profit after Zakat and tax of SAR 26 million in Q1 2021, a decline of 23.7% year-on-year (YoY), driven by lower revenue from short-term rent on the Kingdom’s lockdown related to COVID-19 outbreak. 

 

On a sequential basis, net profit increased by 21.5%, on improved demand.



Current Quarter Comparison (M)

Compared With The
Item Q1 2020 Q1 2021 Change‬
Revenues 197.60 176.90 (10.5 %)
Gross Income 60.22 53.42 (11.3 %)
Operating Income 40.82 32.91 (19.4 %)
Net Income 34.06 25.97 (23.7 %)
Average Shares 43.00 43.00 -
Earnings Per Share before unusual items 0.79 0.60 (23.7 %)
EPS (Riyals) 0.79 0.60 (23.7 %)

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