The profits of the National Gas and Industrialization Company, Gasco, decreased by 12.88% after zakat and tax to about 31.8 million riyals in the second quarter of 2022, compared to about 36.5 million riyals in the same quarter of 2021.
According to Arabiya Net, the company said in a statement that the decrease in net profit by 5 million riyals is mainly due to the decrease in investment income by 13 million riyals, mainly represented by the decrease in investment funds’ revenues, in addition to the increase in operating expenses by one million riyals.
On a quarterly basis, Gasco's profits decreased by 56.44% in the second quarter of 2022, compared to profits of about 73 million riyals in the first quarter of 2022.
The profits of the National Gas and Industrialization Company decreased by 13.97% in the first half of 2022, to about 104.7 million riyals after zakat and tax, compared to about 121.7 million riyals in the first half of 2021.
