Riyadh – Mubasher: National Medical Care Co reported a 17.1% year-on-year rise in profits during the first quarter of 2019.

The firm’s profits, after calculating Zakat and Tax, amounted to SAR 29.99 million in Q1-19, compared to SAR 25.6 million during Q1-18, according to a filing to the Saudi Stock Exchange (Tadawul) on Monday.

The Kingdom-based medical company ascribed first-quarter profit growth to an improvement ranging between 25% and 26.8% in the total value of profit margin.

Revenues tumbled 13.2% to SAR 179.43 million during Q1-19, against SAR 206.67 million in the prior-year period.

Quarter-on-quarter, profits skyrocketed 515.5% from SAR 4.87 million in Q4-18.

In 2018, National Medical Care’s profits slumped 27.1% to SAR 62.18 million from SAR 85.3 million a year ago.