Riyadh – Mubasher: The net profits of the National Medical Care Company (NMC) went down by 1.9% year-on-year (YoY) in the third quarter (Q3) of 2020 to SAR 16.32 million.

The drop in quarterly earnings was due to a lower rental and investment income and a higher Zakat charge, according to a bourse statement on Wednesday.

In the meantime, the company recorded provisions for old receivables from government entities other than the General Organization for Social Insurance (GOSI).

Revenue for Q3-20 grew by 22.9% YoY to stand at SAR 213.3 million, compared with SAR 173.5 million in Q3-19.

In the first nine months of the year, the net earnings soared by 24.5% annually to SAR 75.268 million.