Abu Dhabi – Mubasher: ADNOC Drilling Company reported a 59% year-on-year (YoY) increase in net profits to $175 million in the first quarter (Q1) of 2022 from $110 million, according to the company's financials for the three-month period ended 31 March 2022.
The company's revenues hiked by 15% to $601 million in Q1-22, compared to $523 million in the year-ago period.
The earnings before interest, taxes, depreciation, and amortisation (EBITDA) reached $280 million in the first three months (3M) of 2022, up 35% from $207 million.
The basic and diluted earnings per share (EPS) stood at $0.01 in Q1-22.
