Riyadh-Mubasher: Saudi Steel Pipe recorded net earnings of SAR 8 million for Q3 ended 30 September 2015, rising 22% year-on-year from SAR 6.6 million.

Meanwhile, net income during the nine-month period reached SAR 43 million, up 64% from SAR 26 million in the corresponding period of 2014.

The profit growth was driven by improvement in the financial results of the subsidiary Global Pipe Co., and the impact of cost savings due to start-up operations of the OCTG threading line, the steel pipe manufacturer said in a bourse statement on Sunday.