Saudi Electricity Company (SEC) reported a third quarter net profit of SR4.40bn ($1.17bn), up 51% higher on the SR2.92bn ($779mn) for third quarter 2015, and 209% higher than the SR1.43bn ($380mn) reported for second quarter 2016. Net profit for the first three quarters of 2016 was SR4.46bn ($1.19bn), 50.95% higher than the SR2.95bn ($787mn) for the same period in 2015.

In a statement to the Saudi Stock Exchange (Tadawul), SEC attributed the more than 50% increases in year-on-year net...