Riyadh – Mubasher: The net profits after Zakat and tax of ACWA Power Company reached SAR 883.42 million in the first nine months (9M) of 2022, a leap of 110.37% from SAR 419.94 million in 9M-21.

The Saudi firm generated SAR 3.70 billion in revenue during January-September 2022, down 1.47% from SAR 3.76 billion in the year-ago period, according to interim financial results.

Furthermore, the earnings per share (EPS) stood at SAR 1.21 in 9M-22, versus SAR 0.65 in 9M-21.

During the third quarter (Q3) of 2022, ACWA Power shifted to net profit after Zakat and tax worth SAR 341.70 million, against net losses of SAR 26.94 million in Q3-21.

The Q3-22 revenues edged down by 0.47% year-on-year (YoY) to SAR 1.262 billion from SAR 1.268 billion.

On a quarterly basis, the net profits after Zakat and tax in Q3-22 plummeted by 12.35% from SAR 389.86 million in Q2-22, while the revenues declined by 2.39% from SAR 1.29 billion.

In the first half (H1) of 2022, the company’s net profits after Zakat and tax amounted to SAR 541.72 million, an annual growth of 21.22% from SAR 446.88 million.