Riyadh - Mubasher: The results of Arabian Jazz Company ( Jazz ) for the third quarter of 2024 revealed a 59% increase in net profits compared to the same quarter of 2023 .

According to the company's data on the "Tadawul" website, today, Thursday, net profit after zakat and tax rose to 35.32 million riyals, compared to 22.25 million riyals, the company's profits in the third quarter of last year .

The company explained that the increase in net profits was the result of growth in revenues and savings in the cost of revenues.

The company recorded a growth in total revenues of 57%, rising from SAR 183 million in the third quarter of 2023 to SAR 288 million in the third quarter of 2024.

On a quarterly basis, the company's profits increased by 45% compared to the previous quarter's profits, which amounted to 24.35 million riyals .

The company's profits rose in the first nine months of 2024 to 80.98 million riyals, compared to profits of 57.73 million riyals during the same period last year, an increase of 40.3%.

In a separate statement, it announced its intention to disclose the financial statements on a quarterly basis, starting from the third quarter of fiscal year 2024, in line with best practices in disclosure and governance, and in application of Article 91 of the Corporate Governance Regulations.