DUBAI: Saudi Arabia’s National Industrialization Co (Tasnee) reported a 7.6 per cent rise in third-quarter net profit on Monday.
Tasnee made a net profit of 243.7 million riyals ($65 million, Dh238.6 million) in the three months to September 30, up from 226.4 million riyals a year ago.
The company said its quarterly profit rose despite taking a provision for a legal case relating to one of its units and increased expenses and finance charges. It did not provide further details.
Last month, Tasnee said it planned to pay 1.8 billion riyals to raise its stake in its Cristal subsidiary by 13 per cent. The deal is expected to be completed in the fourth quarter.
