Riyadh – Mubasher: The net losses of Alujain Holding Corp fell by 41.1% annually in the first quarter (Q1) of 2020 to stand at SAR 46.37 million, as shown in the company's interim financial results.
The lower interim losses resulted mainly from a drop of SAR 26.62 million in the company's share of losses from the National Petrochemical Industrial Co. (NATPET), an associate in which Alujain owns a 57.4% stake, according to a bourse disclosure on Tuesday.
Revenue for the three-month period ended 31 March 2020 went down by 2.5%, reaching SAR 4.63 million from SAR 4.75 million in the year-ago period.
