Alpha Abu Dhabi Holding Company posted a 1527%, or more than 15x, jump in quarterly profit.
The company's profits attributable to shareholders amounted to 1.324 billion dirhams during the third quarter of 2021, compared to 81.341 million dirhams in the same period of the previous year.
According to Arabiya Net, the company said in a statement, that the increase in profits is due to the improvement in operating revenues amid the expansion of strategic investments as a result of the acquisitions that took place throughout the current year. .
The company's revenues rose to 5.925 billion dirhams in the three months ended September 30, from 770.56 million dirhams in the corresponding period of the previous year.
Net operating profit increased by 2196% to AED 1.779 billion in the third quarter of this year, compared to AED 77.459 million in the comparable period of 2020.
In terms of results for the first nine months of 2021, the data showed an increase in net profits attributable to shareholders by 1050% to 2,155 billion dirhams, compared to 187.25 million dirhams in the period Similar from 2020.
The company's revenues increased by 341% during the nine months to 11.424 billion dirhams, compared to 2.589 billion dirhams in the same period of the previous year.
