Riyadh – Mubasher: Saudi Arabian Mining Company (Ma’aden) has reported net profits after Zakat and tax worth SAR 2.17 billion in the first quarter (Q1) of 2022, an annual hike of 185.34% from SAR 761.15 million.

Revenues soared by 63.56% to SAR 8.91 billion in Q1-22, compared to SAR 5.44 billion in Q1-21, according to the interim financials for the period ended on 31 March 2022.

In the first three months (3M) of 2022, the earnings per share (EPS) increased to SAR 1.76 from SAR 0.62 during the same period a year earlier.

On a quarterly basis, the revenues in Q1-22 rose by 4.63% from SAR 8.51 billion in Q4-21, while the net profits went up by 3.91% from SAR 2.09 billion.

In 2021, Ma’aden turned profitable, recording net profits after Zakat and tax worth SAR 5.22 billion, versus net losses of SAR 208.98 million in 2020.