Riyadh – Mubasher: Saudi Arabia-based Electrical Industries Co. (EIC) on Thursday stated that its net profits grew 9.07% year-on-year in the third quarter of 2017.
EIC’s net profits rose to SAR 11.44 million in Q3-17, from SAR 10.49 million in Q3-16, according to a bourse statement.
Quarter-on-quarter, profits went up 4.75%.
The Kingdom-based electrical industries firm attributed the rise in its year-on-year net profits to achieving higher sales.
Net profits surged 11.09% to reach SAR 33 million from January until September 2017, from SAR 29.7 million in the same period in the year earlier.
EIC’s stock shed 0.29%, closing at SAR 20.84 on Thursday.
