Dallah 9M 2023 profit up 26% to SAR 246.5 mln; Q3 at SAR 98.9 mln

Dallah Healthcare Co. posted a 26% profit increase in the first nine months of 2023 to SAR 246.5 million, compared to SAR 196 million in the year-earlier period.

The profit increase is driven by a 19% revenue increase to SAR 2.14 billion compared to SAR 1.79 billion in the same period in 2022. This increase is primarily due to higher number of visitors to the company's hospitals as well as higher occupancy rates in both inpatient and outpatient departments. The operating profit margin for the first nine months of 2023 stood at 17.4%, compared to 17.1% for the same period of the previous year.

The company's share of losses from the equity accounted investee (the associates) fell by SAR 19 million to SAR 5.3 million for 9M 2023, compared to losses amounting to SAR 24.2 million for the same period of the previous year.

In Q3 2023, net profit jumped 125.4% to SAR 98.9 million from SAR 43.87 million in Q3 2022.

On a sequential basis, the bottom line grew 86.5% from SAR 53.01 million in Q2 2023.

Shareholders’ equity, after minority interest, reached SAR 3.18 billion as of Sept. 30, 2023, up from SAR 1.97 million a year earlier.

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