Riyadh – Mubasher: Saudi Electricity Company (SEC) achieved net profits after Zakat and tax worth SAR 7.51 billion in the first half (H1) of 2021, against losses worth SAR 3.31 billion in H1-20.
Earnings per share stood at SAR 0.89 in H1-21, versus a loss per share of SAR 0.79 in H1-20, according to the financial results of Sunday.
Revenues increased by 15% to SAR 32.28 billion in H1-21 from SAR 28.06 billion in H1-20.
During the second quarter (Q2) of 2021, SEC also turned profitable at SAR 5.82 billion, against losses of SAR 869 million in Q2-20.
Revenues rose by 13.6% to SAR 18.93 billion in Q2-21 from SAR 16.66 billion in Q2-20.
On a quarterly basis, the net profits in Q2-21 were 245% higher than SAR 1.68 billion in Q1-21, and the revenues soared by 41.8% from SAR 13.34 billion.
