Riyadh – Mubasher: National Gas and Industrialization Company posted a 120.9% year-on-year hike in its profits for the first quarter of 2019.

Net profits after zakat and tax reached SAR 85.79 million in Q1-19, compared to SAR 38.83 million, according to the company’s filing to the Saudi Stock Exchange (Tadawul) on Sunday.

Meanwhile, total revenues of the Saudi company fell 47.48% to SAR 493.88 million in the first three months of 2019, against SAR 940.48 million in the same period of the prior year.

Earnings per share (EPS) stood at SAR 1.14 in Q1-19, versus SAR 0.52 in the same period the year before.

In 2018, National Gas posted an 8% year-on-year profit decrease, registering SAR 117.14 million.