Riyadh - Mubasher: Saudi Aramco Base Oil Company (Luberef) logged net profits valued at SAR 221.50 million in the first quarter (Q1) of 2025, lower by 7.32% than SAR 239.01 million in Q1-24.

The revenues declined by 2.60% year-on-year (YoY) to SAR 2.12 billion in Q1-25 from SAR 2.18 billion, according to the income statements.

The earnings per share (EPS) hit SAR 1.32 in the first three months (3M) of 2025, down from SAR 1.42 in Q1-24.

Meanwhile, on a quarterly basis, the Q1-25 net profits by 6.38% from SAR 208.21 million in Q4-24, while the revenues dropped by 18.99% from SAR 2.62 billion.

In 2024, Luberef's net profits declined by 35.61% to SAR 972.02 million, compared with SAR 1.50 billion in 2023.