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Thndr Claps » Saudi Claps » Industrials 🏗 » Arabian Drilling profit’s up 503% in Q3 📈

Arabian Drilling profit’s up 503% in Q3 📈

by Omar El Shorafa
November 10, 2022

The Clap
Arabian Drilling’s (2381) net profit jumped 502.8% annually in Q3 2022.

The Deets
According to the company, the increase in profits was mostly brought about by an increase in sales as a result of several excavators starting to operate again this quarter compared to the same time last year.

So What
This quarter’s earnings represent the first earnings announcement by the company since the completion of its IPO on Tadawul on November 7.

Now What
Arabian Drilling’s net profit increased by 171.1% during the first nine months of this year, compared to the same period in 2021.

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