Digital Research Co. announces its Annual Financial results for the period ending on 2024-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 63,054,027 | 54,291,812 | 16.14 | ||
| Gross Profit (Loss) | 21,072,128 | 19,823,881 | 6.3 | ||
| Operational Profit (Loss) | 7,934,452 | 11,943,739 | -33.57 | ||
| Net profit (Loss) | 5,929,471 | 10,532,300 | -43.7 | ||
| Total Comprehensive Income | 5,644,272 | 10,672,126 | -47.11 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 37,341,301 | 21,324,064 | 75.11 | ||
| Profit (Loss) per Share | 4.2 | 7.02 | |||
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | Revenue increased by 16.1% to reach SR 63.1 million compared to the previous year, primarily as a result of securing new projects. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | Digital Research Company (DRC) achieved a net profit of SR 5.93 million for the year, decreased by SR 4.60 million (43.7%) as compared to the previous year. The decrease was mainly due to the following:
- Increase in the cost of revenue by SR 7.51 million. - Decrease in operational profit by SR 4.01 million (33.57%) due to increase in general and administrative expenses by SR 4.34 million and increase in the selling and marketing expenses by SR 0.92 million. - Increase in Zakat expenses by SR 0.39 million. - Increase in finance cost by SR 0.22 million.
Despite the above, there was an increase in gross profit by SR 1.25 million equivalent to 6.30%. |
| Statement of the type of external auditor's report | Unmodified opinion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | None |
| Reclassification of Comparison Items | Certain comparative figures have been reclassified to conform with the current year’s presentation. For more information refer to note (36) to the audited financial statements FY 2024. |
| Additional Information | - |
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