SATORP achieves net profit of SR2.17 bln during Q3

The Arabian Aramco Total Services Company announced that its parent company “SATORP” achieved a net profit after zakat and tax of SR2.17 billion during the third quarter, compared to a loss of SR130 million in the same quarter of last year.
This came after the announcement on Wednesday of the preliminary financial results for the period ending on September 30, 2022 (9 months).
The operational profit amounted to SR2.9 billion in the third quarter, compared to SR119 million in the same quarter of the previous year, an increase of 2400%.
The gross profit amounted to SR3 billion in the third quarter, compared to SR198 million in the same quarter of the previous year, a growth of 1444%.
The net profit after zakat and tax in the 9-month period amounted to SR6.68 billion, compared to a loss of SR1.16 billion in the same period last year.
Profits per share in the current period amounted to SR8.11, compared to a loss of SR1.41 in the same period last year.
The reason for the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is:
The increase in profit in Q3 2022 is due to the improved refining and petrochemicals margins and higher throughput compared to the same quarter of the previous year.
The reason for the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is:
The decrease in profit in Q3 2022 is due to the lower refining and petrochemicals margins compared to the previous quarter.
The reason for the increase (decrease) in the net profit during the current period compared to the same period of the last year is:
The increase in profit in the current period is due to the improved refining and petrochemicals margins compared to the similar period of the previous year.