The net profit of Marafiq Electricity and Water Supply Company in Jubail and Yanbu after deducting zakat and taxes decreased by 25.3% to about 106.7 million rials in the first quarter of this year, compared to about 143 million rials in the same period. since last year.
The company’s net profit in the first quarter of 2023 was 18.67% less than the net profit earned in the previous quarter, which was 131 million rials.
The company said in a statement on Saudi Tadavul that the reason for the decline in net income is due to an increase in financing costs, despite an increase in the company’s operating income as a result of increased sales volumes in most of the company’s main industries.
Utilities revenue in the first quarter of this year was 1.473 billion rials compared to 1.462 billion rials in the same period last year, up 0.76%.
