Abu Dhabi – Mubasher: The net profits attributable to the shareholders after tax of Abu Dhabi National Oil Company for Distribution (ADNOC Distribution) hit AED 537.32 million in the first quarter (Q1) of 2023.
The recorded profits were lower than AED 670.68 million in Q1-22, according to interim consolidated income statements.
ADNOC Distribution posted an annual hike in revenue to AED 7.99 billion in Q1-23 from AED 6.73 billion.
Basic and diluted earnings per share (EPS) declined to AED 0.04 as of 31 March 2023 from AED 0.05 in Q1-22.
Meanwhile, the total assets amounted to AED 16.79 billion during the first three months (3M) of 2023, versus AED 16.01 billion as of 31 December 2022.
In April 2023, the UAE group paid out cash dividends valued at AED 1.28 billion for the second half (H2) of 2022.
Last year, ADNOC Distribution logged net profits worth AED 2.74 billion, higher than AED 2.25 billion in 2021.
