Elm Co., the Saudi digital services provider, said net profit for the third quarter rose 39% to SR778 million, from SR559 million a year earlier.
Profit also rose 52% from SR513 million in the second quarter, according to preliminary results the company posted on the Saudi Exchange on Sunday.
Quarterly revenue increased 10% to SR2.79 billion, from SR2.54 billion. Revenue from the digital business segment grew 19.9%, while business process outsourcing revenue fell 14.2%.
Gross profit rose 18% to SR1.21 billion. Operating profit climbed 34% to SR783 million.
Elm said operating expenses fell 2.75%, or SR12 million, helped by lower general and administrative costs and lower expected credit loss charges.
For the nine months to Sept. 30, net profit rose 18% to SR1.95 billion, from SR1.64 billion. Revenue grew 17% to SR7.79 billion, from SR6.66 billion.
Earnings per share for the nine months were SR24.34, compared with SR20.55 a year earlier, Argaam reported.
