Riyadh – Mubasher: Jazan Energy and Development Company (Jazadco) registered net profits after Zakat and tax worth SAR 2.25 million during the third quarter (Q3) of 2021, a decline of 73% from SAR 8.44 million in Q3-20.
Revenues meanwhile rose by 2.7% to SAR 19.15 million in Q3-21 from SAR 18.64 million in Q3-20, according to the initial financial results on Monday.
On a quarterly basis, the net profits in Q3-21 were 71% lower than SAR 7.85 million in Q2-21 and the revenues shrank by 3% from SAR 19.82 million.
During the first nine months of 2021, Jazadco posted an annual increase of 26.7% in net profits to SAR 12.2 million from SAR 9.63 million in the same period last year.
Earnings per share went up to SAR 0.24 in the January-September 2021 period from SAR 0.19 in the same nine months a year earlier.
Revenues increased by 3% to SAR 62.15 million in January-September 2021 from SAR 60.32 million in the corresponding nine months in 2020.
