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

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

06/11/2023 Argaam Exclusive

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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.



Financials (M)

Item 9m 2022 9m 2023 Change‬
Revenues 1,794.11 2,136.89 19.1 %
Gross Income 655.29 782.73 19.4 %
Operating Income 290.80 371.97 27.9 %
Net Income 196.02 246.47 25.7 %
Average Shares 90.00 97.68 8.5 %
EPS (Riyals) 2.18 2.52 15.8 %

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.



Current Quarter Comparison (M)

Compared With The
Item Q3 2022 Q3 2023 Change‬
Revenues 600.89 749.83 24.8 %
Gross Income 211.47 280.86 32.8 %
Operating Income 84.19 130.97 55.6 %
Net Income 43.87 98.87 125.4 %
Average Shares 90.00 97.68 8.5 %
EPS (Riyals) 0.49 1.01 107.6 %

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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