Riyadh – Mubasher: Wafra for Industry and Development Co. on Tuesday posted a net profit of 713,600 ($190,300) for the second quarter of 2016, up 40.35% year-on-year on from SAR 508,500 ($135,600).
Profits registered a 345.11% rise on a quarter-on-quarter basis and were ascribed to the sales season as well as raising efficiency in industrial operations, the company said in a bourse filing.
Wafra previously reported a net profit of SAR 160,000 ($42,700) in Q1-16 against a net loss of SAR 3.7 million ($1 million) in the same period last year.
