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Extra's Q3 profit drops to 104.63M riyals
Ek stilla Financial Company’s results showed a 26.7% year-over-year decline in net profit for the third quarter of 2026, reaching 104.63 million riyals, despite a 5.5% increase in revenues to 1.89 billion riyals, supported by growth in the retail and consumer financing sectors. The retail sector experienced a 10.6% rise in profitability compared to the previous year, while the consumer financing sector’s profits dropped by 82.4% due to higher impairment losses on financial assets, which included additional provisions and updates to credit forecasting models. Over the first nine months of 2026, profit decreased by 10% to 301.85 million riyals, despite a 5.3% rise in revenues to 5.96 billion riyals, with the consumer financing sector growing by 8.8%.
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