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Friday, November 15, 2024

Home Islamic Aljazira Takaful records 53.5% drop in Q1-23 net profits

Aljazira Takaful records 53.5% drop in Q1-23 net profits

by News desk
July 7, 2023
in Islamic

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The net profits before Zakat of Aljazira Takaful Taawuni Company reached SAR 7.90m in the first quarter (Q1) of 2023, marking a year-on-year (YoY) plunge of 53.48% from SAR 16.98 million.

The insurance firm registered gross written premiums (GWP) valued at SAR 75.24 million in Q1-23, up 17.41% from SAR 64.08m in Q1-22, according to the interim financial results. Earnings per share (EPS) stood at SAR 0.13 during January-March 2023, lower than SAR 0.30 in the year-ago period.

Meanwhile, the insurance revenue hiked by 58.23% YoY to SAR 78.93 million in Q1-23 from SAR 49.88 million.—Zawya News