Dallah Healthcare profit increase to SAR 98.8 million during Q3, by 125.3%

Dallah Healthcare Services Company announced an increase in net profit after zakat and tax in the third quarter to SAR 98.8 million, compared to SAR 43.8 million in the same quarter of last year, by 125.3%. This came after the announcement on Monday of the interim financial results for the period ending on September 30, 2023 (nine Months).

Operational profit reached SAR 130.9 million in the third quarter, compared to SAR 91.1 million in the same quarter of the previous year, an increase of 43.7%.

Net profit after zakat and tax in the 9-month period amounted to SAR 246.4 million, compared to SAR 196 million in the same period last year, a growth of 25.7%.

Earnings per share in the current period reached SAR 2.53, compared to SAR 2.18 in the same period last year.

The net profit attributable to the company’s shareholders increased by 125% to SAR 99 million in the third quarter of 2023 compared to SAR 44 million in the same quarter of 2022, resulting in an increase in earnings per share to SAR 1.01 / share compared to SAR 0.49 / share due to:

1. A 25% growth in the revenues for the third quarter of 2023 to SAR 750 million, up from SAR 601 million in the same quarter of 2022. This increase is mainly due to an increase in the number of visitors to the company’s hospitals as well as an increase in occupancy rates in both inpatient and outpatient departments, which was a result of an increase in the operating capacities of the company’s hospitals, which led to an increase in operating profits, which amounted to SAR 131 million for the third quarter of 2023 compared to SAR 91 million for the same quarter last year, the operating profit margin for the third quarter of 2023 was about 17.5%, compared to 15.2% for the same quarter of the previous year.

2. During the third quarter of 2023, the company earned SAR 3 million in profits from its share of the results of assets invested in equity (associates), compared to SAR 6.3 million in losses during the same time the previous year.

The net profit attributable to the company’s shareholders increased by 87% to SAR 99 million in the third quarter of 2023 compared to SAR 53 million in the previous quarter of the same year, resulting in an increase in earnings per share to SAR 1.01 / share compared to SAR 0.54 / share due to:

1. A 12% increase in revenues for the third quarter of 2023 to SAR 750 million, compared to SAR 670 million in the previous quarter of the same year; this increase is primarily due to an increase in the number of visitors to the company’s hospitals and an increase in occupancy rates in both the inpatient and outpatient departments, as a result of an increase in the operating capacities of the company’s hospitals, which led to an increase in operating profits, reaching SAR 131 million for the third quarter of the year 2023, comparing to SAR 103 million for the previous quarter, the operating profit margin for the third quarter of the year 2023 represent 17.5% compared to 15.4% for the previous quarter of the same year.

2. During the third quarter of 2023, the Company earned SAR 3 million profits from its share of the results of the equity accounted investees (the associates), compared to losses of SAR 6.2 million in the previous quarter of the same year.

The net profit attributable to the company’s shareholders increased by 25.7% to SAR 246.5 million in the first nine months of 2023 compared to SAR 196 million in the same period of 2022, resulting in an increase in earnings per share to SAR 2.53 / share compared to SAR 2.18 / share due to:

1. Revenue increase by 19% in the first nine months of 2023, reaching SAR 2.14 billion compared to SAR 1.79 billion in the same time in 2022. This increase is primarily due to an increase in the number of visitors to the company’s hospitals as well as an increase in occupancy rates in both inpatient and outpatient departments as a result of the company’s hospitals’ increased operating capacities, which resulted in an increase in operating profits of SAR 372 million for the first nine months of 2023 compared to 307 million, the operating profit margin for the first nine months of 2023 was about 17.4%, compared to 17.1% for the same period of the previous year.

2. The company’s share of losses from the equity accounted investee (the associates) reduced by SAR 5.3 million for the first nine months of 2023, compared to losses amounting to 24.2 million riyals for the same period of the previous year.