Riyadh – Mubasher: Saudi Chemical Company recorded net profits valued at SAR 91.45 million in the first quarter (Q1) of 2024, an annual jump of 183.39% from SAR 32.27 million.

Revenues surged by 58.27% to SAR 1.64 billion as of 31 March 2024 from SAR 1.03 billion in Q1-23, driven by a 17% hike in sales volumes.

The earnings per share (EPS) grew to SAR 0.11 in the first three months (3M) of 2024 from SAR 0.04 a year earlier, according to the income results.

On a quarterly basis, the company’s net profits in Q1-24 rose by 2.74% from SAR 89.01 million in Q4-23, while the revenues increased by 16.75% from SAR 1.40 billion.

As of 31 December 2023, Saudi Chemical witnessed 128.05% year-on-year (YoY) higher net profits at SAR 182.90 million, compared to SAR 80.20 million.