Riyadh – Mubasher: Saudi Chemical Company reported a 65.19% surge in net profit after Zakat and tax to SAR 93.88 million in the first nine months (9M) of 2023, compared to SAR 56.83 million in the same period of the previous year.
The earnings per share (EPS) rose to SAR 0.11 in 9M-23 from SAR 0.07 in 9M-22, according to the preliminary financial statements.
The company also witnessed a 31.47% increase in revenue to SAR 3.44 billion in the period from January to September 2023, versus SAR 2.62 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 35.10 million, a jump of 240.12% from SAR 10.32 million in Q3-22.
The revenues soared by 57.79% to SAR 1.20 billion from July to September 2023, compared to SAR 760.51 million in the same period of the prior year.
On a quarterly basis, the net profit in Q3-23 grew by 32.20% from SAR 26.55 million in Q2-23, while the revenues dropped by 0.55% from SAR 1.20 billion.
In Q1-23, the company announced net profits after Zakat and tax worth SAR 32.27 million and revenues of SAR 1.03 billion.
