(MENAFN) Saudi Electricity Co (SEC), the Gulf's largest utility firm, said that it registered a drop in its net profit by 6.5 percent during the July-September period of this year, Arabian Business reported.
During this year's third quarter, the company said it registered USD711.7 million billion, compared to USD 775.83 million during the same period of the previous year.
SEC attributed the drop in profit to the implementation of an agreement for oil giant Saudi Aramco to use its transmission system in July 2014 though it did not elaborate on how this deal negatively affected its net profit.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.