Riyadh – Mubasher: The Saudi Arabian Refineries Company announced “refineries” For its transformation into a loss during the third quarter of 2022, compared to a net profit during the comparative period of last year.
According to the company’s financial data, issued on the Saudi Tadawul website today, Thursday, the net loss after zakat and tax amounted to about 3.14 million riyals, compared to a net profit of 827.94 thousand riyals.
The company attributed the reason for the decrease in the profit during the current quarter compared to the same quarter of the previous year to the losses of contribution to the Arab Company for Tanks amounting to 501,230 thousand riyals, and to calculating and adding zakat during this period in the amount of 2.30 million riyals.
And on a quarterly basis, the company has turned for a loss; As it recorded a net profit of about 21 million riyals in the second quarter of 2022.
With regard to the company’s profits during the first nine months of this year, the company’s net profit after zakat and tax increased to about 17.21 million riyals, compared to 18.18 million riyals in the comparative period of last year, an increase of 110.2%.
The company’s revenues increased by 151.6%, to reach 22.12 million riyals, compared to 8.8 million riyals in the comparative period of last year.
And the Saudi Arabian Refineries Company achieved an increase in net profits by 194.3%. during the second quarter From 2022 on an annual basis; As the net profit amounted to 21 million riyals after zakat and tax, compared to 7.14 million riyals in the second quarter of 2021.
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