Financial Results : Mouwasat net profit up 2% to SAR 150.2 mln in Q1 2022

Mouwasat net profit up 2% to SAR 150.2 mln in Q1 2022

12/05/2022 Argaam Exclusive

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Mouwasat Medical Services Co. reported a net profit after Zakat and tax of SAR 150.2 million for Q1 2022, a 2% increase from SAR 147.2 million in the same period a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 534.12 566.97 6.1 %
Gross Income 254.30 267.78 5.3 %
Operating Income 158.49 159.68 0.8 %
Net Income 147.19 150.21 2.1 %
Average Shares 200.00 200.00 -
EPS (Riyals) 0.74 0.75 2.1 %

The profit rise is attributed to higher revenue resulting from continuous effective utilization of newly-specialized resources and enhancement of their operating efficiency. The company also cited higher other revenue and lower financing costs for the increase in net profit.

 

Sequentially, Mouwasat’s net profit rose 2.2% in Q1 2022 from SAR 147 million in Q4 2021.

 

Total shareholders’ equity stood at SAR 2.754 billion as of March 31, 2022, increasing by 13.5% from SAR 2.426 billion a year earlier.

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