Saudi Steel Pipes Company reported a remarkable 71% increase in net profit for the third quarter of 2024, reaching 65 million riyals, up from 38 million riyals in the same period last year. However, profits fell by 9.7% compared to the previous quarter's 72 million riyals. The surge in profits was attributed to a rise in gross profit to 118 million riyals, driven by increased sales volume and improved efficiency. Quarterly revenues also rose to 381 million riyals, compared to 317 million riyals a year earlier. For the first nine months of 2024, profits increased by 61.36% to 213 million riyals, with revenues climbing 61.7% to 1.36 billion riyals, largely due to the consolidation of Al-Alamiya Pipes' results.