Riyadh - Mubasher: National Gas and Industrialization Company (GASCO) reported a 21.25% decline in net profits during the first quarter of 2025, compared to the same quarter of 2024.

The company's results on the Saudi Stock Exchange (Tadawul) on Monday revealed a decline in net profit to SAR 61.9 million in the first quarter of this year, compared to SAR 78.6 million in the same period last year.

The company explained that the decline in net profits was due to higher operating expenses, lower investment and financing revenues, lower other revenues, and higher financing expenses and zakat expenses.

On a quarterly basis, the company's profits increased by 3%, compared to the previous quarter's profits of SAR 60.1 million.

Total sales/revenues rose to SAR 837.6 million in the first quarter of 2025, compared to SAR 706.8 million during the same period in 2024, an increase of 18.51%.