Waja Q1 2026 Net Profit Jumps 46% Despite Flat Revenue
Waja Co. (Ticker: 9560) posted a net profit of SAR 1.65 million for Q1 2026, a 45.8% increase year-over-year, driven by improved profit margins despite nearly flat revenue of SAR 25.11 million (down 0.37% YoY). Sequentially, revenue plunged 61.12% and net profit fell 40.12%.
Key Numbers
Waja Co. (Saudi Stock Exchange: 9560) announced its interim financial results for the three months ended March 31, 2026, reporting a net profit of SAR 1.65 million, up 45.8% from SAR 1.13 million in the same period last year. The growth came despite revenue remaining nearly flat at SAR 25.11 million, a marginal 0.37% decline.
Key Financial Results
| Item | Current Quarter (Mar 2026) | Similar Quarter 2025 | Change % | Previous Quarter (Dec 2025) | Change % |
|---|---|---|---|---|---|
| Revenue | SAR 25.11M | SAR 25.20M | -0.37% | SAR 64.58M | -61.12% |
| Gross Profit | SAR 5.27M | SAR 4.59M | +14.9% | SAR 8.62M | -38.83% |
| Operating Profit | SAR 3.11M | SAR 2.14M | +45.67% | SAR 3.34M | -6.84% |
| Net Profit | SAR 1.65M | SAR 1.13M | +45.80% | SAR 2.76M | -40.12% |
| EPS | SAR 0.024 | SAR 0.016 | +50% | — | — |
Key Highlights
The company attributed the annual net profit increase to higher profit margins despite a slight revenue dip. Sequentially, revenue fell 61.12% from the previous quarter due to fewer awarded contracts and reduced project volume, leading to a 40.12% drop in net profit.
Guidance
No specific forward guidance was provided in the release.
Stock Impact
No immediate stock reaction was reported, but the strong annual performance may support investor confidence.
What This Means for Investors
The robust year-over-year earnings growth demonstrates Waja's ability to enhance profitability even with stable revenue. However, the sharp sequential decline in both revenue and profit warrants close monitoring of future contract awards and project pipeline.
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