Financial Results : Care Q1 2021 net profit rises 8% to SAR 35.7 mln

Care Q1 2021 net profit rises 8% to SAR 35.7 mln

19/05/2021 Argaam Exclusive

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National Medical Care Co. (Care) reported a net profit after Zakat and tax of SAR 35.7 million for the first quarter of 2021, an 8% increase, from SAR 33.2 million in the same period last year.



Current Quarter Comparison (M)

Compared With The
Item Q1 2020 Q1 2021 Change‬
Revenues 195.02 214.19 9.8 %
Gross Income 52.22 63.64 21.9 %
Operating Income 36.28 42.18 16.3 %
Net Income 33.17 35.73 7.7 %
Average Shares 44.85 44.85 -
EPS (Riyals) 0.74 0.80 7.7 %

The company attributed the profit rise to higher revenue by 10%, and increase in gross profit margin to 3%.

 

This was partially offset by higher general and administrative expenses and Zakat charges.

When compared to the previous quarter, Q1 net profit increased 62.4% due to higher gross profit margin, and lower operating expenses.

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