Riyadh – Mubasher: Saudi Arabia-based National Medical Care Company on Tuesday posted a 64.8% year-on-year jump in its profits for the first quarter of 2018.

Net profits recorded SAR 25.6 million in Q1-18, compared to SAR 15.54 million in Q1-17, according to the company’s statement to the Saudi Stock Exchange (Tadawul).

The Tadawul-listed company attributed the increase in profits to low cost of revenue, and general and administrative expenses.

Revenues of the medical company rose 2% to SAR 207 million during the first three months of 2018, versus SAR 202 million for the same period of the prior year.

For the full-year 2017, National Care’s profits surged 69.7% to SAR 85.3 million, from SAR 50.27 million a year earlier.

By the end of Monday’s session, National Care’s stock inched down 0.4% at SAR 58.96.