Riyadh – Mubasher: National Gas and Industrialization Company (GASCO) recorded a 115.8% year-on-year (YoY) leap in net profits after Zakat and tax to SAR 36.7 million during the third quarter (Q3) of 2021, compared to SAR 17 million.

Revenues declined by 1.96% YoY to SAR 444.8 million in Q3-21 from SAR 453.7 million, according to the initial financial results on Monday.

On a quarterly basis, the net profits in Q3-21 were 0.5% higher than SAR 36.5 million in Q2-21, while the revenues decreased by 4.9% from SAR 467.8 million.

In the first nine months of 2021, GASCO reported a 189% YoY jump in profits to SAR 158.4 million from SAR 54.8 million.

Earnings per share stood at SAR 2.11 at the end of September 2021, compared to SAR 0.73 in the same period a year earlier.

Revenues declined by 2.6% YoY to SAR 1.42 billion in January-September 2021 from SAR 1.46 billion.