Riyadh – Mubasher: National Gas and Industrialization Company’s (GASCO) net profits after Zakat and tax plunged by 14.31% to SAR 73 million in the first quarter (Q1) of 2022, compared to SAR 85.20 million in Q1-21.

Revenues stood at SAR 516.70 million in Q1-22, up 1.09% from SAR 511.10 million in Q1-21, according to the interim financial results on Wednesday.

In the first three months (3M) of 2022, the earnings per share (EPS) decreased to SAR 0.97 from SAR 1.14 during the same period in the previous year.

On a quarterly basis, the revenues in Q1-22 grew by 8.14% from SAR 477.80 million in Q4-21, while the net profits enlarged by 68.59% from SAR 43.30 million.

In 2021, the Saudi listed firm logged net profits after Zakat and tax worth SAR 201.70 million, lower by 47.33% than SAR 136.90 million in 2020.