RIYADH: Saudi Arabia’s Tadawul All Share Index shed 12.63 points or 0.11 percent on Monday to close at 11,329.19, following the flat line it spurred on Sunday.
While the parallel market Nomu lost 183.81 points to 20,604, the MSCI Tadawul Index dropped slightly by 0.36 percent to 1,521.05.
The total trading turnover of the benchmark index was SR6.78 billion ($1.81 billion).
East Pipes Integrated Co. for Industry was the top performer as its share price surged 9.93 percent to SR60.90.
Saudi Pharmaceutical Industries and Medical Appliances Corp. and Ayyan Investment Co. also performed well with their share prices soaring by 9.93 percent and 9.18 percent, respectively.
The worst performer was Scientific and Medical Equipment House Co., which announced its financial results on Monday.
In a statement to Tadawul, the company said its net profit shrunk 62.5 percent to SR6.3 million, compared to SR16.8 million in the same period a year ago. The company’s share price dipped 4.09 percent to SR72.20.
Saudi Arabian Mining Co., also known as Ma’aden, reported that its net profit slumped 80.69 percent to SR419.41 million in the first quarter of 2023, compared to SR2.17 billion for the same quarter in the previous year.
The company attributed the decrease in profit to a fall in average selling prices of all products except gold, higher cost of sales, increased raw material costs, and soaring production costs.
Ma’aden’s share price slipped 2.62 percent to SR66.50 at the end of Monday’s trading.
Obeikan Glass Co. also announced that its net profit fell 39.24 percent in the first quarter of this year to SR29.81 million, compared to SR49.06 million for the same quarter in 2022. Its share price closed 1.33 percent higher at SR76.
Meanwhile, Saudi Marketing Co. reported a 20.62 percent jump in its net profit to SR7.44 million in the first quarter from SR6.17 million in the same period a year ago.
The company attributed the rise in net profit to better retail and entertainment revenues in the current quarter compared to the same quarter in 2021.
Driven by the rise in profit, the company’s share price increased 1.11 percent to SR27.30.
Jabal Omar Co., which also announced its financial results revealed that it turned into a profit in the first quarter of 2023 to SR11.93 million, from the SR182.46 million loss it incurred in the same quarter a year ago. However, the company’s share price dipped 1.6 percent to close at SR23.38.
Dallah Healthcare Co., in a bourse filing, revealed that its net profit soared by 14.65 percent in the first quarter to SR94.7 million, marking a jump from SR82.6 million reported for the same quarter in 2022. However, its share price went down 3.17 percent to SR171.20.
