The increase in “Al -Drees” profits to 100 million riyals in the first quarter of 2025

The net profit of Al -Drees Petroleum Services and Transport Company increased in the first quarter of 2025 by 29.3% to 100.1 million riyals, compared to 77.4 million riyals in the same quarter of last year.
According to the company’s statement on Saudi Arabia’s circulation, the reason for the rise in the net profit during the current quarter is compared to the similar quarter of the previous year to the increase in sales of the vector sectors and oil and increasing the revenues of bank deposits and investing in the sukuk.
The reasons included: The results of investment in the joint project improved despite the decrease in other revenues and the increase in sales and marketing expenses, public and administrative expenses, financing and zakat costs.
The increase in total comprehensive income during the current quarter, compared to the same quarter of the previous year, is due to the re -measurement of the staff’s definitions of employees.
According to the company’s statement, the reason for the rise in the net profit during the current quarter compared to the previous quarter is to the increase in sales of the oil and transmission sectors, the increase in the revenues of bank deposits, the investment in the sukuk, the improvement of investment results in the joint project, the decrease in sales and marketing expenses, despite the decrease in other revenues, the increase in public and administrative expenses, financing costs and zakat expenses.
The increase in total comprehensive income during the current quarter, compared to the previous quarter, is due to the re -measurement of the defined benefits of employees.