Riyadh – Mubasher: Saudi Arabian Mining Company (Ma’aden) registered a net profit after Zakat and tax worth SAR 8.30 billion in the first nine months (9M) of 2022, an annual leap of 164.62% from SAR 3.13 billion.

Revenues enlarged by 68.80% year-on-year (YoY) to SAR 30.80 billion in the January-September 2022 period, compared to SAR 18.24 billion, according to the interim financial results.

The earnings per share (EPS) stood at SAR 3.37 in 9M-22, higher than SAR 1.27 in 9M-21.

During the third quarter (Q3) of 2022, the Tadawul-listed firm witnessed a 65.31% surge in net profit after Zakat and tax to SAR 2.10 billion, versus SAR 1.27 billion in Q3-21.

The revenues increased by 49.50% YoY to SAR 10.01 billion in Q3-22 from SAR 6.69 billion.

On a quarterly basis, the Q3-22 net profits after Zakat and tax shrank by 47.80% from SAR 4.02 billion in Q2-22, while the revenues dropped by 15.68% from SAR 11.87 billion.

In 6M-22, Ma’aden generated SAR 6.20 billion in net profit after Zakat and tax, a hike of 232.32% from SAR 1.86 billion in the year-ago period.