RIYADH: Petrochemical giant Saudi Basic Industries Corp. saw an 84 percent year-over-year increase in net profit to SR2.18 billion ($564 million) in the second quarter of 2024, driven by higher margins and new zakat rules. In a Tadawul statement, the company reported a 32 percent increase in gross profit to SR7.19 billion, driven by improved margins on key products and higher sales volume, but partially offset by one-off charges. Sales increased in the Americas, decreased in Europe and were unchanged in China, the Middle East and Rest of Asia.
