Riyadh – Mubasher: Saudi Arabian Oil Company (Aramco) has registered net profits after Zakat and tax worth SAR 148.03 billion during the first quarter (Q1) of 2022, an annual growth of 81.76% from SAR 81.44 billion.

The company generated SAR 467 billion in revenue in Q1-22, higher by 71.64% than SAR 272.07 billion in January-March 2021, according to a bourse disclosure on Sunday.

Meanwhile, the earnings per share (EPS) increased to SAR 0.65 in Q1-22 from SAR 0.36 in Q1-21.

On a quarterly basis, the revenues in Q1-22 jumped by 15.76% from SAR 403.41 billion in Q4-21, while the net profits surged by 21.93% from SAR 121.40 billion.

In a separate bourse filing, Aramco announced a cash dividend distribution of SAR 0.31 per share for Q1-22.

The Saudi listed firm will pay out a total of SAR 70.33 billion for 219.91 billion eligible shares.

The eligibility and distribution dates will be on 23 May and 8 June, respectively.

Aramco President and CEO, Amin Nasser, commented: “As we collaborate with domestic and international partners to explore new and emerging technologies and solutions, from developing cleaner transport technologies to establishing low-carbon hydrogen and ammonia value chains, I am more optimistic than ever about the positive contribution we can make, both to our customers and to the ongoing global energy transition.”

In 2021, the oil company logged net profits after Zakat and tax worth SAR 412.40 billion, a hike of 124.42% from SAR 183.76 billion in 2020.