Dallah Healthcare 9M 2022 net profit leaps 31% to SAR 196 mln; Q3 at SAR 43.9 mln

08/11/2022 Argaam Exclusive

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Dallah Healthcare Co. reported a net profit after Zakat and tax of SAR 196 million for the first nine months of 2022, leaping 31% from SAR 150 million in the same period last year.

Financials (M)

Item	9m 2021	9m 2022	Change‬
Revenues	1,529.61	1,794.11	17.3 %
Gross Income	537.46	655.29	21.9 %
Operating Income	211.43	290.80	37.5 %
Net Income	150.00	196.02	30.7 %
Average Shares	90.00	90.00	-
EPS (Riyals)	1.67	2.18	30.7 %

The improved results were due to the continued growth in operations, along with higher number of patients and occupancy rates in the inpatient and outpatient departments. The company also cited a decline in its share of losses from associates. However, it reported an increase in provisions for Zakat assessments for the previous years, as well as Murabaha financing cost.

The healthcare provider reported a net profit after Zakat and tax of SAR 43.9 million in Q3 2022, falling 12% year-on-year (YoY).

This was due to an increase in provisions for Zakat assessments for previous years, as well as Murabaha financing cost.

As compared to the previous quarter, net profit saw a drop of 36.9% from SAR 69.52 million.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2021	Q3 2022	Change‬
Revenues	544.12	600.89	10.4 %
Gross Income	192.46	211.47	9.9 %
Operating Income	69.95	84.19	20.4 %
Net Income	49.85	43.87	(12.0 %)
Average Shares	90.00	90.00	-
EPS (Riyals)	0.55	0.49	(12.0 %)

Item	Q2 2022	Q3 2022	Change‬
Revenues	583.82	600.89	2.9 %
Gross Income	212.13	211.47	(0.3 %)
Operating Income	96.68	84.19	(12.9 %)
Net Income	69.52	43.87	(36.9 %)
Average Shares	90.00	90.00	-
EPS (Riyals)	0.77	0.49	(36.9 %)

Shareholders' equity, after deducting minority rights, amounted to SAR 1.976 billion at the end of the current period, compared to SAR 1.877 billion a year earlier.

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