Riyadh – Mubasher: Arabian Aramco Total Services Company (Satorp) incurred net losses worth SAR 130.06 million during the third quarter (Q3) of 2021, lower by 83.8% than SAR 804.37 million in Q3-20.

Revenues soared by 88% year-on-year (YoY) to SAR 11.26 billion in Q3-21 from SAR 5.98 billion, according to the initial financial results on Thursday.

On a quarterly basis, the net losses in Q3-21 were also lower by 68% than SAR 409.82 million in Q2-21, while the revenues increased by 3% from SAR 10.93 billion.

During the first nine months of 2021, Satorp suffered net losses totalling SAR 1.16 billion, down by 35% YoY from SAR 1.79 billion.

The loss per share declined to SAR 1.41 at the end of September 2021 from SAR 2.17 in the same period last year.

Revenues surged by 69.5% YoY to SAR 28.02 billion in January-September 2021 from SAR 16.52 billion.

Source: Mubasher

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