SATORP turns to profitability in Q1-22

SATORP turns to profitability in Q1-22

Riyadh – Mubasher: Arabian Aramco Total Services Company announced SAR 1.43 billion net profits after Zakat and tax of its parent company, Saudi Aramco Total Refining and Petrochemical Company (SATORP), in the first quarter (Q1) of 2022, against net losses of SAR 620.91 million in the year-ago period.

The company's revenues hiked by 197.82% to SAR 17.35 billion in Q1-22, compared to SAR 5.82 billion in Q1-21, according to a bourse filing on Monday.

The earnings per share (EPS) settled at SAR 1.74 in the January-March period of 2022, versus losses per share of SAR 0.75 in the same period of 2021.

It is noteworthy to mention that in 2021, SATORP's net profits after Zakat and tax retreated by 64.99% to SAR 907.88 million from SAR 2.59 billion in 2020.