Riyadh – Mubasher: Aldrees Petroleum and Transport Services Company’s net earnings stood at SAR 36.9 million during the third quarter (Q3) of 2020, posting a yearly surge of 122.3%.

The jump in Q3-20 net profit was supported by an increase in fuel profit margin despite the drop in the company’s sales, fuel prices, and other income, according to a stock exchange statement on Monday.

Moreover, the firm’s joint venture profit as well as financial and Zakat expenses rose, whereas marketing, general, and administrative expenses slumped.

Revenue for the July-September period decreased by 11.7% annually to reach SAR 1.3 billion.

Over the first nine months of the year, the profits soared by 28.1% to SAR 81.6 million, compared to SAR 63.7 million in the year-ago period.