Financial Results : Nahdi net profit up 22% to SAR 237.5 mln in Q1 2022

Nahdi net profit up 22% to SAR 237.5 mln in Q1 2022

17/05/2022 Argaam Exclusive

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Nahdi Medical Co. reported a net profit after Zakat and tax of SAR 237.5 million for Q1 2022, a 22% increase from a profit of SAR 195 million in the same period a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 1,981.11 2,079.49 5.0 %
Gross Income 779.71 851.73 9.2 %
Operating Income 224.35 255.15 13.7 %
Net Income 195.02 237.51 21.8 %
Average Shares 130.00 130.00 -
EPS (Riyals) 1.50 1.83 21.8 %

The profit increase is attributed to higher sales from the pharmaceuticals segment amid a rise in coronavirus Omicron variant cases. Also, infection rates increased compared to 2021, with the easing of the related restrictions.

 

The firm’s gross profit also increased on sales growth and positive product mix.

 

Sequentially, the company’s net profit grew 65.8% from SAR 143.2 million in Q4 2021.

 

Total shareholders’ equity stood at SAR 1.84 billion as of March 31, 2022, declining by 19.1% from SAR 2.27 billion a year earlier.

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