Riyadh – Mubasher: The National Industrialization Company (Tasnee) registered SAR 623.20 million in net profit after Zakat and tax during the first nine months (9M) of 2022, lower by 38.76% than SAR 1.01 billion in 9M-21.
The Saudi firm generated revenues worth SAR 2.94 billion in January-September 2022, up 17.26% year-on-year (YoY) from SAR 2.51 billion, according to the initial income statements.
Meanwhile, the earnings per share (EPS) settled at SAR 0.93 in 9M-22, versus SAR 1.52 in 9M-21.
During the third quarter (Q3) of 2022, the company’s net profits after Zakat and tax shrank by 94.87% YoY to SAR 17.10 million, compared to SAR 333.40 million.
Also, the revenues plunged by 11.67% to SAR 887.10 million in Q3-22 from SAR 1 billion in Q3-21.
On a quarterly basis, the Q3-22 net profits after Zakat and tax retreated by 94.24% from SAR 297.10 million in Q2-22, whereas the revenues fell by 17.64% from SAR 1.07 billion.
In the first half (H1) of 2022, Tasnee witnessed an 11.43% drop in net profit after Zakat and tax to SAR 606.10 million, versus SAR 684.30 million during the same period a year earlier.
