Riyadh – Mubasher: Advanced Petrochemical Company has generated net profits after Zakat and tax worth SAR 164 million during the first quarter (Q1) of 2022, down 4.09% from SAR 171 million in Q1-2021.

During the January-March period in 2022, the revenues soared by 37.02% to SAR 866 million compared to SAR 632 million during the same three months in 2021, according to the company’s estimated financials for the period ended 31 March 2022.

On a quarterly basis, the revenues declined by 4.30% in the first three months of 2022 from SAR 905 million in the fourth quarter (Q4) of 2021, while the net profits rose by 3.79% from SAR 158 million.

Moreover, the earnings per share (EPS) decreased to SAR 0.63 in Q1-22 from SAR 0.65 in the year-ago period.

It is worth noting that in 2021, the Saudi listed company reported a 36.91% year-on-year (YoY) increase in net profits after Zakat and tax to SAR 815.4 million from SAR 595.59 million.