Mouwasat Medical Services Co. reported a net profit after Zakat and tax of SAR 384.9 million for the first nine months of 2020, a 32.5% increase, compared to SAR 290.6 million the year-earlier.
The profit increase was attributed to a 12% growth in revenue, positive contribution from Khobar branch and a decrease in the financing cost.
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Revenues | 1,352.17 | 1,511.44 | 11.8 % |
| Gross Income | 599.16 | 711.08 | 18.7 % |
| Operating Income | 330.81 | 427.49 | 29.2 % |
| Net Income | 290.56 | 384.86 | 32.5 % |
| Average Shares | 200.00 | 200.00 | - |
| EPS (Riyals) | 1.45 | 1.92 | 32.5 % |
In Q3 2020, net profit after Zakat and tax rose 73% year-on-year (YoY) to SAR 161.1 million due to a 24% rise in revenue and a decline in financing costs.
On a sequential basis, Q3 2020 net profit rose 39%.
| Item | Q3 2019 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 443.29 | 549.06 | 23.9 % |
| Gross Income | 193.64 | 271.52 | 40.2 % |
| Operating Income | 104.74 | 173.32 | 65.5 % |
| Net Income | 93.04 | 161.10 | 73.2 % |
| Average Shares | 200.00 | 200.00 | - |
| EPS (Riyals) | 0.47 | 0.81 | 73.2 % |
| Item | Q2 2020 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 468.43 | 549.06 | 17.2 % |
| Gross Income | 219.01 | 271.52 | 24.0 % |
| Operating Income | 131.19 | 173.32 | 32.1 % |
| Net Income | 115.73 | 161.10 | 39.2 % |
| Average Shares | 200.00 | 200.00 | - |
| EPS (Riyals) | 0.58 | 0.81 | 39.2 % |
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