Riyadh – Mubasher: Dallah Healthcare Company (DHC) has reported SAR 19.2 million in net profits during the first quarter (Q1) of 2020, 45.4% down from SAR 35.2 million in the corresponding period in 201.

Revenues declined by 2% on an annual basis over the period from January to March 2020 to reach SAR 314.6 million when compared to SAR 321.1 million, according to a stock exchange statement on Tuesday.

The decrease in the interim profits was caused by a recession in patients' number due to the health ministry’s instructions regarding the application of infection control measures and preventive precautions as part of the effective infections control policy the company follows.   

In addition, the Saudi firm registered higher credit loss provision and pre-operating expenses for Dr. Mohammed Alfagih Hospital, in which the company owns a share.

Last year, Dallah Healthcare posted an increase in net profit by 3.6% to SAR 145 million, compared with SAR 142 million in 2018.