NMDC Energy JCSJ (ADX: NMDCENR), a subsidiary of NMDC Group (ADX: NMDC), announced its quarterly financial results.
Publish dateThursday 24 October 2024 - 16:10
According to Amac News: In the announcement of NMDC Energy, it is stated that in the three months ending September 30, 2024, the company had a 145% increase in net profit from 164 million dirhams to 402 million dirhams compared to the previous year.
The announcement stated that revenues increased to 3.975 billion dirhams, which is a 110 percent increase compared to the same period in 2023.
The company achieved record growth rates in net profit for the nine-month period ended September 30, 2024, reporting a net profit of AED 904 million, representing a 122% increase over the same period in 2023.
According to the announcement, the revenue of the first nine months of 2024 reached a historical record of 9.78 billion dirhams, which was a 96% increase compared to the same period in 2023.
NMDC Energy began trading on the Abu Dhabi Stock Exchange (ADX) on September 11, 2024 following an IPO that was oversubscribed 31.3 times.
NMDC Energy has been awarded a $254.6 million contract by ADNOC Gas for the next phase of the Estidama sales pipeline network enhancement program.
As of August 2024, NMDC Energy has been recognized as the Industry 4.0 Digital Leader by the Ministry of Industry and Advanced Technology (MOIAT).
The announcement stated that revenues increased to 3.975 billion dirhams, which is a 110 percent increase compared to the same period in 2023.
The company achieved record growth rates in net profit for the nine-month period ended September 30, 2024, reporting a net profit of AED 904 million, representing a 122% increase over the same period in 2023.
According to the announcement, the revenue of the first nine months of 2024 reached a historical record of 9.78 billion dirhams, which was a 96% increase compared to the same period in 2023.
NMDC Energy began trading on the Abu Dhabi Stock Exchange (ADX) on September 11, 2024 following an IPO that was oversubscribed 31.3 times.
NMDC Energy has been awarded a $254.6 million contract by ADNOC Gas for the next phase of the Estidama sales pipeline network enhancement program.
As of August 2024, NMDC Energy has been recognized as the Industry 4.0 Digital Leader by the Ministry of Industry and Advanced Technology (MOIAT).
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Source : news agency wam
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