Maharah Human Resources Co. posted a net profit after Zakat and tax of SAR 113.9 million for the nine-month period ended Sept. 30, 2022, a rise of 8% from SAR 105.7 million in the year-earlier period.
The profit growth was driven by a 25% revenue rise. In addition, the 9M 2022 financials contained an equity stake from the newly acquired companies during Q3 2022, namely Care shield Holding and Saudi Medical Systems Co. as income from investment in associates amounting to SAR 35 million.
The firm also cited a rise in income from investment in financial instruments through profit or loss by SAR 2.5 million compared to the previous quarter.
| Item | 9m 2021 | 9m 2022 | Change |
|---|---|---|---|
| Revenues | 969.06 | 1,200.81 | 23.9 % |
| Gross Income | 163.31 | 163.44 | 0.1 % |
| Operating Income | 111.75 | 83.15 | (25.6 %) |
| Net Income | 105.66 | 113.94 | 7.8 % |
| Average Shares | 475.00 | 475.00 | - |
| EPS (Riyals) | 0.22 | 0.24 | 7.8 % |
In Q3 2022, net profit after Zakat and tax leapt 74% to SAR 61.9 million from SAR 35.63 million a year earlier, mainly due to higher revenues.
| Item | Q3 2021 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 324.83 | 416.28 | 28.2 % |
| Gross Income | 54.29 | 58.37 | 7.5 % |
| Operating Income | 36.31 | 30.02 | (17.3 %) |
| Net Income | 35.63 | 61.93 | 73.8 % |
| Average Shares | 475.00 | 475.00 | - |
| EPS (Riyals) | 0.08 | 0.13 | 73.8 % |
| Item | Q2 2022 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 409.29 | 416.28 | 1.7 % |
| Gross Income | 56.05 | 58.37 | 4.1 % |
| Operating Income | 30.19 | 30.02 | (0.5 %) |
| Net Income | 27.19 | 61.93 | 127.8 % |
| Average Shares | 475.00 | 475.00 | - |
| EPS (Riyals) | 0.06 | 0.13 | 127.8 % |
Shareholders’ equity, after minority interest, amounted to SAR 561.24 million at the end of the nine-month period, from SAR 530.98 million a year earlier.
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