The company said it made SAR 84.85m ($22.61m) on a net basis to 30 September, down from SAR 169.4m in the same period of 2013.
It blamed falling volumes and freight rates in both general cargo and chemical tanker operations.
Profit also dropped at Petredec, the LPG carrier company 30.3% owned by Bahri.
It was boosted in 2013 by a gain of SAR 55.9m
