Riyadh – Mubasher: Profits of companies listed within Tadawul’s main index plunged by 47.38% yearly, equivalent to SAR 151.2 billion, during the first nine months of the year.
Net earnings of 172 listed companies amounted to SAR 167.95 billion in the January-September period, compared with SAR 319.16 billion in the year-ago period, according to data collected by Mubasher based on the companies’ earnings releases.
A total of 12 listed companies achieved billions of profits during the nine-month period of the year, with profits of five of these companies growing, whereas earnings of seven others have dipped.
On the other hand, five listed companies moved to more than a billion loss during the period from January to September of 2020.
Moreover, Rabigh Refining and Petrochemical Company (Petro Rabigh) came next with a net loss of SAR 3.8 billion, while Saudi Basic Industries Corporation (SABIC) suffered SAR 2.18 billion worth of losses.