Riyadh – Mubasher: Saudi Electricity achieved SAR 4.4 billion profits ($1.17 billion) during the third quarter of 2016, leaping 50.8% year-on-year from SAR 2.92 billion and 209% quarter-on-quarter from SAR 1.4 billion, according to a bourse filing.
Higher profits were driven by an increase in operating revenues due to sales seasons in spite of higher fuel prices, according to the filing.
Over the first nine months, net profit rose 51% year-on-year to SAR 4.45 billion from SAR 2.95 billion.
