Al-Drees Petroleum and Transport Services Company Al-Drees achieved a profit that rose by 58.4%, in the first quarter of 2022, to 62.4 million riyals, compared to 39.4 million riyals, in the first quarter of 2021, and on a quarterly basis, profits rose 15.3%, compared to 54.1 in the previous quarter. Million riyals.
According to Arabiya Net, the value of operating profits in the first quarter of 2022 amounted to about 84.4 million riyals, compared to 63.8 million riyals, in the first quarter of 2021, a growth of 31.9%.
The company said that the reason for the increase in net profit during the current quarter compared to the same quarter of the previous year is due to the increase in sales to the oil and transport sectors
It stated that it achieved an increase in unrealized profits from revaluing the investment at fair value through profit and loss despite the increase in marketing expenses, general and administrative expenses, financial expenses and zakat expenses, a decrease in investment profits in the joint venture and a decrease in other revenues
