Riyadh – Mubasher: Saudi Arabia-based National Gas and Industrial Company (GASCO) on Tuesday said its net profits surged 27.53% year-on-year in the third quarter of 2017.

Net profits rose to SAR 38.73 million in Q3-17, from SAR 30.37 million in Q3-16, according to a bourse statement.

The growth in GASCO’s year-on-year net profits was attributed to a rise in total income by SAR 2.9 million, in revenues of investments in associate firms by SAR 4.3 million, and in profits of assets sale and other revenues by SAR 571,000.

At the level of the first nine months of 2017, the firm's net profits reached SAR 141.5 million, compared to SAR 103.67 million in the corresponding period in the year earlier.

 By 11:29 am KSA time, the stock inched up 0.78% to SAR 32.10.