Riyadh – Mubasher: Power and Water Utility Company for Jubail and Yanbu (Marafiq) registered SAR 454.16 million in net profit after Zakat and tax during the first nine months (9M) of 2023.
The generated net profits plummeted by 36.43% from SAR 714.43 million in 9M-22, according to the interim income statements.
Revenues declined by 2.44% to SAR 4.76 billion in 9M-23 from SAR 4.88 billion in the same period a year earlier.
The earnings per share (EPS) stood at SAR 1.82 as of 30 September 2023, marking a year-on-year (YoY) drop from SAR 2.86.
Financial Results for Q3-23
In the third quarter (Q3) of 2023, the listed firm witnessed a 39.27% plunge in net profit after Zakat and tax to SAR 188.05 million, versus SAR 309.66 million.
The company generated revenues amounting to SAR 1.70 billion during July-September 2023, an annual decrease of 3.78% from SAR 1.76 billion.
On a quarterly basis, the Q3-23 profits hiked by 17.98% from SAR 159.39 million in the April-June 2023 period, while the revenues grew by 6.86% from SAR 1.59 billion.
