Riyadh –  The net profits after Zakat and tax of Saudi Automotive Services Company (SASCO) hiked by 75.44% to SAR 14.07 million in the first quarter (Q1) of 2023 from SAR 8.02 million in Q1-22.

Revenues amounted to SAR 2.22 billion as in Q1-23, an annual leap of 74.48% from SAR 1.27 billion, according to interim financial results.

The earnings per share (EPS) jumped to SAR 0.23 as of 31 March 2023, compared to SAR 0.13 in the year-ago period.

On a quarterly basis, the Q1-23 net profits after Zakat and tax plummeted by 50.58% from SAR 28.47 million in Q4-22, while the revenues declined by 2.36% from SAR 2.27 billion.

Last year, SASCO registered net profits after Zakat and tax valued at SAR 89.71 million, higher by 76.45% than SAR 50.84 million in the January-December 2021 period.

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