Riyadh – Mubasher: National Metal Manufacturing and Casting Company (Maadaniyah) has reported a 7.5% year-on-year loss increase during the third quarter of the fiscal year 2019.

The company’s net loss after zakat and tax increased to SAR 47.08 million in Q3-19, compared to SAR 620,000 in the year-ago period, according to a bourse statement released on Tuesday.

Revenue dropped 42.86% to SAR 58.05 million in the three-month period ended September 2019, from SAR 101.6 million the year before.

In the first nine months of 2019, the Tadawul-listed company turned to loss, recording a net loss after zakat and tax of SAR 51.37 million.

Revenue went down by 30.71% YoY in the January-September period, recording SAR 204.57 million.

It is worth noting that Maadaniyah turned to losses with SAR 4.1 million in Q2-19, against profits of SAR 3.75 million in Q2-18.