Riyadh – Mubasher: National Gas and Industrialization Company (GASCO) posted a net profit after Zakat and tax of SAR 184.70 million in the first nine months (9M) of 2023, up by 15.87% from SAR 159.40 million in the same period of 2022.
The company’s earnings per share (EPS) rose to SAR 2.46 in 9M-23, compared to SAR 2.13 in 9M-22, according to the preliminary financial statements.
GASCO also witnessed an 18.75% growth in revenue to SAR 1.79 billion in January-September 2023 from SAR 1.50 billion in the same period of 2022.
Financial Results for Q3
In the third quarter (Q3) of 2023, the listed firm achieved a net profit after Zakat and tax of SAR 57.20 million, a slight increase of 0.35% from SAR 57 million in Q3-22.
The company’s revenues increased by 18.90% to SAR 609.60 million in July-September 2023 when compared to SAR 512.70 million in the same quarter of the previous year.
On a quarterly basis, the net profit in Q3-23 rose by 4.95% from SAR 54.50 million in Q2-23, while the revenues grew by 7.44% from SAR 567.40 million.
In Q1-23, the Saudi firm reported net profits after Zakat and tax of SAR 73 million and revenues of SAR 614.90 million.
