Riyadh – Mubasher: The net profits after Zakat and tax of Saudi Aramco Base Oil Company (Luberef) reached SAR 1.24 billion in the first nine months (9M) of 2023, up 2.15% from SAR 1.21 billion in 9M-22.
Revenues plummeted by 20.96% year-on-year (YoY) to SAR 6.95 billion in 9M-23 from SAR 8.80 billion, according to the income statements.
The earnings per share (EPS) stood at SAR 7.38 as of 30 September 2023, versus SAR 7.20 in the year-ago period.
Financial Results for Q3-23
During the third quarter (Q3) of 2023, the firm posted 28.30% lower net profits after Zakat and tax at SAR 340.43 million, versus SAR 474.79 million in Q3-22.
The revenues hit SAR 2.54 billion during July-September 2023, down 6.34% YoY from SAR 2.72 billion.
On a quarterly basis, the Q3-23 profits dropped by 25.16% from SAR 454.85 million in Q2-23, while the revenues declined by 2.44% from SAR 2.61 billion.
