Publisher: Maaal International Media Company
License: 465734
Basic Chemical Industries Co. announced that its profits after zakat and tax rose 87% to SR 84 million in the first quarter of 2022 compared to 13 million during the same period of 2021.
This came after BCI announcement on Thursday of the preliminary financial results for the period ending on 31.03.2022 (three months).
The company’s operational profit jumped 42% to SR 25 million in the 1st quarter of the current year from SR 18 million in the same period of the previous year.
Gross profit of BCI grew 18% to SR 44 million in the first quarter of this year from SR 37 million a year ago, while the profit per share climbed to SR 0.63 from SR 0.27.
The reason for the increase in net profit is due to increase in Sales and decrease in general and administrative expenses and profit from fair value of derivative financial instruments.
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