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Petro Rabigh turns to profits worth SAR 221m in Q3

Petro Rabigh turns to profits worth SAR 221m in Q3
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PETRO RABIGH
2380
-1.65% 21.40 -0.36

Riyadh – Mubasher: Rabigh Refining and Petrochemical Company (Petro Rabigh) achieved a net profit after Zakat and tax worth SAR 221 million during the third quarter (Q3) of 2021, against losses of SAR 610 million in Q3-20.

Revenues surged by 59.9% year-on-year (YoY) to SAR 11.27 billion in Q3-21 from SAR 7.05 billion, according to the initial financial results on Tuesday.

During the first nine months of 2021, Petro Rabigh also turned profitable at SAR 1.58 billion, versus losses worth SAR 3.84 billion in the same period last year.

Earnings per share amounted to SAR 1.81 at the end of September 2021, against a loss per share of SAR 4.39 in the corresponding period in 2020.

Revenues jumped 135% YoY to SAR 32.52 billion during the January-September 2021 period from SAR 13.82 billion.