ABU DHABI: NMDC Energy JCSJ (ADX: NMDCENR), a subsidiary of NMDC Group, has announced a significant increase in net profit for the third quarter, marking a successful first earnings report since its initial public offering. The company recorded a net profit of AED 402 million for the three months ending September 30, 2024, reflecting a 145 percent rise from the previous year, driven by operational successes and strategic project expansions. According to Emirates News Agency, NMDC Energy's revenue surged to AED 3.975 billion, representing a 110 percent increase compared to the same period in 2023. Over the first nine months of 2024, the company achieved record profits of AED 904 million, a 122 percent rise from the previous year, with revenues reaching AED 9.78 billion, up 96 percent from 2023. The company began trading on the Abu Dhabi Securities Exchange on September 11, 2024, after an IPO that was oversubscribed 31.3 times. Chairman Mohamed Hamad Almehairi emphasized the company's role in economic develop ment, highlighting its strategic growth and IPO as indicators of future ambitions. CEO Eng. Ahmed Salem Al Dhaheri noted that the focus on strategic projects, including Hail and Ghasha, Estidama, and Ruwais LNG, contributed to the financial success. NMDC Energy was also recognized as an Industry 4.0 Digital Leader by the Ministry of Industry and Advanced Technology, underscoring its commitment to operational efficiency and sustainability. The company continues to aim for growth by enhancing its market presence, strengthening partnerships, and embedding sustainable practices. It recently secured a $254.6 million contract from ADNOC Gas for the Sales Gas Pipeline Network Enhancement Program. The recognition as an Industry 4.0 Digital Leader further supports NMDC Energy's competitive edge in the UAE's industrial sector.