The losses of (SATORP), the parent company of (Arabian Aramco Total Services), in the second quarter increased by 19%, recording about 410 million riyals, compared to losses of about 344. million riyals in the same period last year.
The losses of the first half year also increased by 4% to more than one billion riyals, compared to losses of about 990 million riyals in the same period in 2020.
According to a statement by Saudi Aramco Total Services on the Saudi market's Tadawul website, today, Thursday, the increase in losses in the second quarter of 2021 compared to the same quarter of 2020 is due to Low profit margins due to prevailing market conditions.
The slight increase in losses for the first six months of the year compared to the previous period was mainly attributed to the prevailing market conditions.
The Arabian Aramco Total Services Company announced that the parent company, SATORP, recorded a loss of 3.85% in the first quarter of the year.
SATORP's losses amounted to 620.9 million riyals in the first quarter of 2021, compared to losses of 645.8 million riyals in the same quarter of 2020.
