The group's earnings per share fell 18.62 per cent year-on-year to 2.49 riyals during the first nine months of 2023. Image Credit: Shutterstock

Dubai: Stock exchange operator Saudi Tadawul Group Holding Company’s net profit after Zakat for the first nine months of 2023 fell 18.8 per cent year-on-year to 298.3 million riyals.

Operating revenue fell 12.77 per cent during the same period to 740.7 million riyals, the group said in a statement on Sunday.

The group’s operating expenditure rose 13.69 per cent year-on-year to 528.9 million riyals. Its Ebitda, however, fell 38 per cent during the same period to 265.5 million riyals.

Earnings per share fell 18.62 per cent year-on-year to 2.49 riyals.

During the third quarter, Saudi Tadawul Group made further progress against its growth and diversification, in line with its ambition to position the Saudi capital market as a global investment hub ... In particular, we have continued to build our position as the investment destination choice within the region, including through the launch of four new indices by the Saudi Exchange to provide investors with enhanced benchmark opportunities.

- Eng. Khalid Al-Hussan, CEO of Saudi Tadawul Group

Read more

Segment-wise performance

Operating revenue fell at the group’s two of the three business segments based on services provided, increasing in one.

Operating revenue in the group’s Capital Markets Segment fell nearly a fourth year-on-year to 246.5 million riyals.

The metric in the Post-Trade Segment fell 17.61 per cent over a year ago to 367.6 million riyals.

In the Data and Technology Services Segment, however, operating revenue rose 69.79 per cent to 126.5 million riyals.

The group’s market capitalisation stood at 11,457.8 billion riyals during the reported period. Liabilities fell 9.89 per cent year-on-year to 4.45 billion riyals.