Riyadh – Mubasher: Saudi Electricity Company (SEC) has generated net profits after Zakat and tax worth SAR 7.02 billion in the first half (H1) of 2022, lower by 6.61% than SAR 7.51 billion in H1-21.

Revenues went up by 3.14% year-on-year (YoY) to SAR 32.93 billion during the January-June 2022 period, versus SAR 31.92 billion, according to the interim financial results.

The earnings per share (EPS) declined to SAR 0.77 in H1-22 from SAR 0.89 in H1-21.

During the second quarter (Q2) of 2022, the Saudi listed firm recorded a 5.59% drop in net profit after Zakat and tax to SAR 5.50 billion, compared to SAR 5.82 billion in Q2-21.

Meanwhile, the revenues surged by 4.42% to SAR 19.40 billion in April-June 2022, compared to SAR 18.58 billion during the same period a year earlier.

In the first three months (3M) of 2022, the company’s net profit after Zakat and tax fell by 10.18% YoY to SAR 1.51 billion from SAR 1.68 billion.