Borouge’s net profit falls by 7% in Q3 2023
by ChemOrbis Editorial Team - content@chemorbis.com
According to a filing to the Abu Dhabi Securities Exchange, the UAE’s Borouge reported $279.09 million net profit for the third quarter of 2023. The figure indicated a 7% decrease year-on-year while the drop was attributed to lower revenue TFurthermore, the company’s revenue in Q3 2023 decreased by about 11% to about $1.5 billion.
On the other hand, the company recorded a 22% increase in its Q3 net profit and a 6% gain in its revenue quarter-on-quarter.
During the January-September period, the company reported $713 million net profit, indicating a decrease of 39% year-on-year. The company’s revenue stood at $4.29 billion for this period.
Borouge announced $1.14 billion operating profits for the first nine months of 2023. The amount indicated a 32% decrease from a year ago.
On the other hand, the company recorded a 22% increase in its Q3 net profit and a 6% gain in its revenue quarter-on-quarter.
During the January-September period, the company reported $713 million net profit, indicating a decrease of 39% year-on-year. The company’s revenue stood at $4.29 billion for this period.
Borouge announced $1.14 billion operating profits for the first nine months of 2023. The amount indicated a 32% decrease from a year ago.
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