National Medical Care Co. (Care) reported a net profit after Zakat and tax of SAR 114.6 million for the first nine months of 2022, a 15% increase from SAR 99.6 million in the year-earlier period.
| Item | 9m 2021 | 9m 2022 | Change |
|---|---|---|---|
| Revenues | 629.79 | 666.25 | 5.8 % |
| Gross Income | 184.49 | 210.94 | 14.3 % |
| Operating Income | 119.57 | 130.18 | 8.9 % |
| Net Income | 99.64 | 114.63 | 15.0 % |
| Average Shares | 44.85 | 44.85 | - |
| EPS (Riyals) | 2.22 | 2.56 | 15.0 % |
The profit-rise came as revenue went up 6% year-on-year (YoY) due to higher business volumes and increased patient visits under all categories. Gross profit improved by 14% YoY, while other income rose and Zakat charges decreased.
Meanwhile, Care noted higher selling and marketing expenses, and, general and administrative costs.
In Q3 2022, net profit after Zakat and tax rose 29% YoY to SAR 42.6 million, driven by higher revenue and improved gross profit margins.
| Item | Q3 2021 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 213.11 | 238.28 | 11.8 % |
| Gross Income | 63.08 | 82.71 | 31.1 % |
| Operating Income | 39.80 | 49.06 | 23.3 % |
| Net Income | 33.17 | 42.62 | 28.5 % |
| Average Shares | 44.85 | 44.85 | - |
| EPS (Riyals) | 0.74 | 0.95 | 28.5 % |
| Item | Q2 2022 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 216.49 | 238.28 | 10.1 % |
| Gross Income | 66.80 | 82.71 | 23.8 % |
| Operating Income | 45.95 | 49.06 | 6.8 % |
| Net Income | 42.01 | 42.62 | 1.5 % |
| Average Shares | 44.85 | 44.85 | - |
| EPS (Riyals) | 0.94 | 0.95 | 1.5 % |
When compared to the previous quarter, Q3 net profit grew by 1.5% from SAR 42.01 million.
Shareholders’ equity, after minority interest, grew by 7% to SAR 1.194 billion as of Sept. 30, 2022, from SAR 1.091 billion a year earlier.
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