Riyadh – Mubasher: National Shipping Company of Saudi Arabia (Bahri) posted a year-on-year decline of 94% in net profits after Zakat and tax at SAR 17.99 million during the third quarter (Q3) of 2021, compared to SAR 313.74 million.

Revenues also decreased by 12.5% to SAR 1.32 billion in Q3-21 from SAR 1.51 billion in Q3-20, according to the financial results on Sunday.

During the first nine months of 2021, Bahri registered a YoY plunge of 93% in net profits to SAR 100.46 million from SAR 1.49 billion.

Earnings per share stood at SAR 0.26 at the end of September 2021, compared to SAR 3.79 in the same period last year.

Revenues shrank by 46% YoY to SAR 3.8 billion in January-September 2021 from SAR 7.12 billion.