Amlak Finance has achieved net profits worth AED 13.08 million in the first quarter (Q1) of 2022, higher than AED 6.38 million in Q1-21.

In the first three months (3M) of 2022, the income from Islamic financing and investing assets declined to AED 34.49 million from AED 40.84 million in the same period a year earlier, according to a recent bourse filing.

The basic earnings per share (EPS) rose to AED 0.009 in Q1-22 from AED 0.004 in Q1-21, while the diluted EPS grew to AED 0.005 from AED 0.002.

Meanwhile, the company suffered accumulated losses of AED 1.29 billion as of Q1-22, representing 86% of the capital.

In 2021, Amlak Finance recorded net profits attributable to the equity holders of AED 1.05 billion, versus net losses of AED 451.10 million a year earlier.