Saudi Arabia .. “Naqwa” shares rises 0.95% after announcing the annual financial results

The share of Naqwa Information Technology, which is listed in the parallel Saudi stock market, “growth” by 0.95% at the beginning of Saudi market transactions today, Monday, trading at the price of 21.30 riyals per share, after announcing the annual financial results.

The trading on the share of Naqwa Information Technology Company at that time came at 8.3 thousand shares with a value of trading 181.44 thousand riyals.

The highest price for the share at that time was at 22.16 riyals per share during the session, while the lowest price for the share was at 21.30 riyals per share.

Naqwa Information Technology has made a big leap in its net profit during the six months ending December 31, 2024, recording an increase of 731%.

The company announced that the net profit amounted to about 2.303 million riyals, compared to 277 thousand riyals during the same period in the previous year.

The company attributed this remarkable growth growth to the total profit by 1.68 million riyals as a result of increasing the total revenues, in addition to the decrease in administrative and public expenses by 63.26 thousand riyals, and the decrease in financing costs by 208.73 thousand riyals, in addition to the decline in the Zakat clause by 67.84 thousand riyals.

Naqwa Information Technology, listed on the parallel market (growth) since November 2024, is a public joint stock company operating in the software and services sector, with its focus on information technology consultations and systems integration services.