Riyadh – Mubasher: Saudi Pharmaceutical Industries and Medical Appliances Corporation (SPIMACO) registered net profits after Zakat and tax worth SAR 6.39 million during the third quarter (Q3) of 2021, a year-on-year (YoY) plunge of 89.7% from SAR 62.5 million.

Revenues narrowed by 16% to SAR 312.02 million in Q3-21 from SAR 372.91 million in Q3-20, according to the initial financial results on Thursday.

During the first nine months of 2021, the net profits of SPIMACO decreased by 53.9% YoY to SAR 60.03 million from SAR 130.23 million.

Earnings per share inched down to SAR 0.54 at the end of September 2021 from SAR 1.15 in the same period last year.

Revenues declined by 7% YoY to SAR 1.09 billion in January-September 2021 from SAR 1.17 billion.