Riyadh – Mubasher: Combined profits of Tadawul-listed healthcare companies increased by 54.3% on a year-on-year (YoY) basis during the third quarter (Q3) of the year.

The companies’ profits hit SAR 620.3 million in the quarter ended on 30 September 2020, backed by a growth in revenue from hospitals and an upswing in pharmaceuticals and medical supplies sales amidst the coronavirus crisis, according to data collected by Mubasher based on the firms’ earnings releases.

During Q3-20, Dr. Sulaiman Al Habib Medical Services Group recorded the highest net profit of SAR 298.79 million, 50.9% more than SAR 198 million in the corresponding period in 2019, representing 48.3% of total earnings.

Meanwhile, Mouwasat Medical Services Company’s (Mouwasat) net profits grew by 73.15% yearly to SAR 161.1 million.

As for Dallah Healthcare Company (DHC), third-quarter profit came in at SAR 53.8 million, 102.3% higher than SAR 26.6 million in the prior-year period.

On the other hand, the net earnings of the National Medical Care Company (NMC) went down by 1.9% yearly in the July-September period to SAR 16.32 million.

During the first nine months of the year, combined profits of Saudi healthcare companies reached SAR 1.55 billion, an increase of 25.1% when compared to SAR 1.24 billion in the same period a year earlier.