The profits of Petrochemical National Petrochemical Company rose 522%, with net profit after Zakat and the taxes of SR 311 million in the first quarter of 2021, for profits of SR 50 million in the same quarter.
According to Arab Net Petrochem's net profit on a quarter of 23.4% in the first quarter of 2021, against net profit 252 million riyals in the fourth quarter of 2020,
The company said in a statement on Saudi trading on Thursday that the cause of net profit during the first quarter of 2021, compared with the same quarter of 2020 returns to 3 factors, he high in the average price of subsidiaries, and low public and administrative expenses, as well as low costs Financing.
Petrochem sales increased by 35.28% in the first quarter of 2021, up to 2.13 billion riyals, compared to 1.57 billion riyals in the same quarter.
Petrochem has recorded net profit after tax and Zakat worth 230 million riyals at the end of last year, down 66% compared to SR 674 million in the end of 2019.
