Riyadh – Mubasher: Saudi Basic Industries Corporation (SABIC) has achieved net profits after Zakat and tax worth SAR 6.47 billion in the first quarter (Q1) of 2022, a jump of 33.12% from SAR 4.86 billion in Q1-21.

The company generated SAR 52.64 billion in revenues in Q1-22, an annual hike of 40.26% year-on-year (YoY) from SAR 37.53 billion, according to the interim financial results on Thursday.

During the first three months (3M) of 2022, the earnings per share rose to SAR 2.16 from SAR 1.62 during the same period a year earlier.

On a quarterly basis, the Q1-22 revenues went up by 2.73% from SAR 51.24 billion, while the net profits leaped by 30.18% from SAR 4.97 billion.

In 2021, SABIC logged net profits after Zakat and tax worth SAR 23.03 billion, up 32.80% from SAR 70 million in 2020.