Saudi Tadawul's net profits rose by 121.9% in the first quarter of this year.
According to data released today, Sunday, May 5, net profit reached 201.5 million riyals in the three-month period ending in March, compared to 90.8 million riyals during the comparison period of 2023.
Earnings per share reached SAR 1.68. Revenues increased by 72.8% to SAR 387.6 million.
The increase in trading and post-trade services revenues, as a result of the increase in trading values by 113.3%, in addition to the increase in technology and data services revenues by 49.5%, supported the Saudi Tadawul revenues in the first quarter.
Operating expenses amounted to SAR 195.4 million in the first quarter of 2024, compared to SAR 160.0 million in the corresponding quarter of the previous year, representing an increase of 22.1%.
The increase in operating expenses during the first quarter of 2024, compared to the same quarter of the previous year, is mainly due to the consolidation of the financial statements of Mubasher Financial Network Company, effective from May 7, 2023.
