ADNOC Distribution records 6% increase in net profit in 9 months

article author:
Arab News
Author:
Tue, 2021-11-09 15:34

RIYADH: Abu Dhabi-based oil company, ADNOC Distribution, recorded a 6 percent increase in net profit in the first nine months of 2021, compared to the same period last year, reaching 1.7 billion dirhams ($462 million).

The company continues to see an increase in total fuel volumes that rose 10.6 percent in September compared to August, signaling a recovery from the pandemic.

However, the oil company said its third quarter net profit fell to 529 million dirhams, a drop of 21 percent compared to Q3 2020, due to lower fuel margin.

Main category:
Business & Economy
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#night
#oil
Abu Dhabi

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