Company Announcement
Rasan Information Technology Co. announces its Interim Financial results for the Period Ending on 2025-03-31 ( Three Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 120.511 | 66.934 | 80.044 | 117.871 | 2.239 |
| Gross Profit (Loss) | 85.76 | 40.042 | 114.175 | 93.296 | -8.077 |
| Operational Profit (Loss) | 29.796 | 9.937 | 199.849 | 41.854 | -28.809 |
| Net profit (Loss) | 30.001 | 9.473 | 216.7 | 39.789 | -24.599 |
| Total Comprehensive Income | 30.049 | 14.03 | 114.176 | 39.201 | -23.346 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 450.471 | 135.539 | 232.355 |
| Profit (Loss) per Share | 0.39 | 0.13 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | Sales in the first quarter of 2025 increased by 80% compared to the same quarter of the previous year. This growth is attributed to several key factors: An increase in the number of policies sold, reflecting higher demand and improved effectiveness of the sales teams, as well as the acquisition of new customers. The launch of new channels and business lines, with new lines such as travel insurance and domestic worker insurance, Medical Malpractice introduced, contributing to revenue growth. Cross-selling and upselling initiatives, as some existing products experienced growth through cross-selling efforts. New features were offered to customers, leading to an increase in average sales and enhanced customer satisfaction. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Net profits in Q1 2025 increased by 217% compared to the previous year Q1, due to the following reasons: 1-improving the the gross profit margin by 11.4p.p.(59.8% during Q1 2024 compared to 71.2% during Q1 2025), driven by scale, product mix, up and cross-selling and enhanced operational efficiency. 2-Enhanced the EBITDA by 148 % compared to the same quarter of last year driven by enhancing the operating efficiency. 3-Higher other income dri |