Riyadh - Mubasher: Saudi Arabian Refineries Company (SARCO) reported a turnaround in profitability for the first quarter of 2025, compared to a net loss in the same quarter of 2024, due to an increase in the company's share of profits from investments in associate companies.

According to the company's data on the Saudi Stock Exchange (Tadawul) on Monday, net profit reached SAR 2.08 million in the first quarter of this year, compared to losses of SAR 599,000 in the same period last year.

The company attributed its shift to profitability to an increase in the company's share of profits from investments in associates, an increase in dividends from investments recorded at fair value, and an increase in unrealized gains from the revaluation of investments.

Total sales/revenues jumped to SAR 6.75 million in the first quarter of 2025, compared to SAR 266.67 thousand in the same period in 2024, an increase of 2,430%.