Saudi Arabian Oil Company (Saudi Aramco) Announces its Interim Financial Results for the Period Ended 2023-03-31 (Three Months)
- Date: 10-May-2023
- Source: Mubasher
- Sector:Oil & Gas
- Country:Saudi Arabia
Saudi Arabian Oil Company (Saudi Aramco) Announces its Interim Financial Results for the Period Ended 2023-03-31 (Three Months)
All figures are in (Billions) Saudi Arabia, Riyals
Element List
Current Period
Similar period for previous year
%Change
Total Share Holders Equity (after Deducting Minority Equity)
1,491.61
1,197.35
24.57
Profit (Loss) per Share
0.49
0.59
All figures are in (Billions) Saudi Arabia, Riyals
Element List
Explanation
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is
Net income for the first quarter of 2023 was SAR 119.54 billion ($31.88 billion), compared to SAR 148.03 billion ($39.47 billion) for the same quarter in 2022. The decrease was mainly driven by lower crude oil prices, partially offset by lower income taxes and zakat and higher finance and other income.
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is
Net income for the first quarter of 2023 was SAR 119.54 billion ($31.88 billion), compared to SAR 115.22 billion ($30.73 billion) for the fourth quarter of 2022. The increase is mainly driven by lower income taxes and zakat, lower operating costs, and higher finance and other income. This was partially offset by lower crude oil prices.
Statement of the type of external auditor's report
Unmodified conclusion
Reclassification of Comparison Items
None
Additional Information
* Given the nature of Saudi