Riyadh – Mubasher: Advanced Petrochemical Company has reported a 39.74% rise in net profits after Zakat and tax to SAR 218 million during the third quarter (Q3) of 2021 from SAR 156 million in the same quarter of 2020.

The increase in net profits is attributed to higher polypropylene sales prices by 47%, according to a bourse filing on Sunday.

The company generated revenues of SAR 805 million in Q3-21, up 47.71% from SAR 545 million in the year-ago period.

During the first nine months of 2021, the company's net profits hiked by 57.2% to SAR 654 million, compared to SAR 416 million in the year-ago period.

The company's revenues rose by 37.96% to SAR 2.21 billion in the January-September period of 2021 from SAR 1.599 billion in the corresponding period of the earlier year.

The earnings per share (EPS) stood at SAR 3.02 in the first nine months of 2021, compared to SAR 1.921 in the year-ago period.

It is noteworthy to mention that during the second quarter (Q2) of 2021, the company achieved net profits after Zakat and tax worth SAR 265 million, higher by 70.9% than SAR 155 million in Q2-20.