Petro Rabigh logs SAR 725m profits in Q1-22 initial financials

Riyadh – Mubasher: Rabigh Refining and Petrochemical Company (Petro Rabigh) has registered net profits after Zakat and tax of SAR 725 million during the first quarter (Q1) of 2022, higher by 11.71% than SAR 649 million in Q1-21.

During the January-March period, the company's revenues stood at SAR 14.40 billion, an annual hike of 42.08% from SAR 10.13 billion, according to a bourse disclosure on Thursday.

Meanwhile, the earnings per share (EPS) increased to SAR 0.83 in Q1-22 from SAR 0.74 in Q1-21.

On a quarterly basis, the Q1-22 revenues rose by 9.80% from SAR 13.11 billion, while the net profits soared by 61.46% from SAR 449 million.

Last year, Petro Rabigh recorded net profits after Zakat and tax worth SAR 2.03 billion, versus net losses of SAR 3.78 billion in 2020.

Mubasher Contribution Time: 12-May-2022 13:26 (GMT)
Mubasher Last Update Time: 12-May-2022 13:26 (GMT)