ALBAWABA - Saudi Aramco, the Saudi Arabian oil company, has announced a 37.89% decrease in its net profits for the second quarter of 2023, amounting to approximately 112.81 billion Saudi riyals after zakat and taxes. This is in contrast to about 181.64 billion Saudi riyals in the same quarter of 2022.
The financial data of Saudi Aramco revealed a 19.25% reduction in net profits after zakat and taxes, totaling 119.54 billion Saudi riyals (31.8 billion dollars) in the first quarter of 2023, compared to 148.03 billion Saudi riyals (39.47 billion dollars) in the same quarter of 2022.
On a quarterly basis, Saudi Aramco's profits increased by 3.75% in the first quarter of the current year, reaching 115.22 billion Saudi riyals compared to the fourth quarter of 2022.
The company stated that it distributed dividends amounting to 73.2 billion Saudi riyals (19.5 billion dollars) in the first quarter, reflecting a 4% increase from the previous quarter.
