Riyadh – Mubasher: The net profits after Zakat and tax of SABIC Agri-Nutrients Company amounted to SAR 2.68 billion during the first nine months (9M) of 2023, an annual drop of 65.92% from SAR 7.86 billion.

Earnings per share (EPS) stood at SAR 5.63 in 9M-23, compared to SAR 16.53 a year earlier, according to the interim financial results.

The firm recorded a 45.44% year-on-year (YoY) plunge in revenue to SAR 8.06 billion during the January-September 2023 period from SAR 14.77 billion.

Income Statements for Q3-23

In the third quarter (Q3) of 2023, SABIC Agri-Nutrients logged net profits after Zakat and tax valued at SAR 1.04 billion, lower by 55% than SAR 2.33 billion in Q3-22.

Revenues shrank by 39.51% YoY to SAR 2.67 billion during the three-month period that ended on 30 September 2023, compared to SAR 4.41 billion.

On a quarterly basis, the Q3-23 net profits hiked by 61.14% from the SAR 651 million generated in Q2-23, while the revenues grew by 1.64% from SAR 2.62 billion.