Waja’s net profits fell by 82.5% to 892 thousand riyals in the third quarter
A company’s net profits decreased "And he came" for the third quarter of the current year by 82.5% to 892 thousand riyals, compared to a net profit of 5.11 million riyals in the same quarter of the previous year.
The decrease in net profit compared to the same quarter of 2024 is mainly due to lower revenues, in addition to the formation of an allowance for credit losses and higher financing costs, the company reported in a statement on "Saudi Arabia trading"Today, Tuesday.
For the first three quarters of 2025 (9 months), net profit declined by 81% to 2.38 million riyals, compared to 12.56 million riyals in the corresponding period of the previous year.
This is mainly due to the decrease in the value of revenues, an increase in administrative expenses, the formation of the allowance for credit losses, and the increase in financing costs.
The company also bore part of the non-recurring expenses associated with preparing the company’s file. To move to the main market (TASI), which resulted in incurring due and obligatory expenses related to the regulatory and executive procedures for this strategic step.
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Twitter
