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FINANCIAL NEWS
Saudi Electricity Co reports USD768m profit in Q3
17 Oct 2012
(MENAFN) Saudi Electricity Company (SEC) reported a 32 percent increase in quarterly earnings on higher energy sales and limits on the sales tariff, Reuter reported.
Middle East’s largest utility said it made USD768 million net profit during the third quarter, up from USD579.91 million a year earlier.
The performance also marked a strong rise in profits from the previous quarter in a sector with strong seasonal variation between summer and winter electricity demand, the company said.
Quarterly operating profits grew by 31 percent to USD741.75 million from USD566.6 million a year earlier, the company said.
SEC is currently working on restructuring its operations pending further privatisation of its operating units.
More News
13 Apr 2026
BBK launches the Youth Advisory Council (YAC) to empower youth and advance innovation
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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