Saudi Azm generates 23% higher net profits in Q1-26/27

AZM
7211 8.21% 30.32 2.30

Riyadh — Mubasher: Saudi Azm for Communication and Information Technology Company achieved net profits valued at SAR 17.30 million in the first quarter (Q1) of fiscal year (FY) 2026/2027.

The quarterly profits jumped by 23.04% year-on-year (YoY) from SAR 14.06 million, according to the financial results.

The company’s revenue rose by 49.26% to reach SAR 104.42 million, compared to SAR 69.95 million in the prior-year period.

Management attributed top-line growth to the securing of new projects and increased revenue generation from existing contracts.

Gross profit for the quarter climbed by 36.38% to SAR 33.76 million, while operating profit surged by 42.89% to reach SAR 17.30 million.

On a sequential basis, net profit improved by 6.47% from the SAR 16.25 million recorded in the previous quarter. The company noted that the year-on-year profit gain was supported by a SAR 9.01 million increase in gross profit and a SAR 440,000 reduction in Zakat and income tax expenses, which offset higher operating expenses of SAR 3.81 million.

Earnings per share (EPS) for the period stood at SAR 0.30, up from SAR 0.24 a year earlier.

Total shareholders' equity, excluding non-controlling interests, was reported at SAR 211.16 million, representing a 35.28% increase from SAR 156.10 million.

Source: Mubasher Source: {{details.article.source}}