The profits of the Saudi Arabian Refineries Company recorded an increase of 114.4% to reach, after zakat and tax, 827.94 thousand riyals in the third quarter of this year, compared to 386.08 thousand riyals in the quarter's profits. Third of 2020.
According to Arabiya Net and on a quarterly basis, refineries' profits decreased by 88.4% in the third quarter of this year, compared to a net profit of about 7.13 million riyals in the second quarter of 2021.
The refiners said in a statement on Saudi Arabia's Tadawul, today, Tuesday, that the reason for the increase in profit during the current quarter compared to the same quarter of the previous year is due to the realization of provisions whose purpose has been lost. (The bank guarantee of the Arab Sulfonate Company) amounting to 1.529 million riyals.
While the reasons for the decrease in profit during the current quarter compared to the previous quarter are attributed to the company receiving in the previous quarter the dividends due for the first half of 2021 from the Saudi Group Company Industrial investment (invested company) amounting to 7,597,240 riyals.
The company stated that the profits for the first nine months of 2021 increased by 28.22% to 8.187 million riyals, compared to 6.38 million riyals in the corresponding period of 2020.< /p>
The company's sales recorded a growth of 3.1% in the first nine months of the year to 8.79 million riyals, compared to 8.52 million riyals in the comparable period last year.
