DUBAI: Saudi Arabia's Yanbu National Petrochemical Co. (Yansab) reported a 20.1 percent drop in third-quarter net profit on Monday, in line with analysts' estimates, as sales volumes declined.

The firm, a subsidiary of Saudi Basic Industries Corp. (SABIC), made a net profit of SR691.3 million ($184 million) in the three months to Sept. 30, down from SR864.8 million in the same period of 2013, a statement to the Saudi bourse said. It was the company's fourth straight quarterly profit decline, Reuters data showed.

Nine analysts polled by Reuters on average had forecast Yansab's quarterly profit would be SR699.2 million.

The firm blamed lower sales volumes for the profit drop.