The profits of Al-Drees Petroleum and Transport Services Company Al-Drees increased by 28.45% to reach 47.4 million riyals in the third quarter of 2021, compared to about 36.9 million riyals, net profit in the same quarter of 2020.
According to Arabiya Net, on a quarterly basis, Al-Drees' net profit increased by 31.7% in the third quarter of 2021, compared to a net profit of about 36 million riyals in the second quarter of 2021.
Al-Drees said in a statement on Saudi Arabia's Tadawul, today, Sunday, that the reason for the increase in net profit during the third quarter of this year compared to the same quarter of the previous year, is due to Increased sales to the Petroleum and Tanker segments, an increase in unrealized profits from revaluation of the investment at fair value through profit or loss, and an increase in other revenues.
She added that despite the decrease in the investment profits in the joint venture and the increase in marketing expenses, general and administrative expenses and financial expenses.
Al-Drees' net profit after zakat and tax increased by 50.37% in the first nine months of this year to 122.7 million riyals, compared to 81.6 million riyals in the same period of 2020. .
