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NMC’s net profits surge 55% in 9M-23

NMC’s net profits surge 55% in 9M-23
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81.52% 220.00 98.80

Riyadh – Mubasher: The net profits after Zakat and tax of National Medical Care Company (NMC) rose by 54.80% to SAR 177.44 million in the first nine months (9M) of 2023, compared to SAR 114.63 million in the same period of 2022.

The revenues also increased by 17.36% to SAR 781.94 million in 9M-23 from SAR 666.24 million in 9M-22.

The earnings per share (EPS) stood at SAR 3.96 in 9M-23, up year-on-year (YoY) from SAR 2.56.

Income Statements for Q3-23

In the third quarter (Q3) of 2023, the Saudi firm’s net profits after Zakat and tax reached SAR 73.38 million, a 72.15% growth from SAR 42.62 million in Q3-22.

NMC’s revenues increased by 15.56% YoY to SAR 275.35 million during the July-September 2023 period, compared to SAR 238.27 million.

On a quarterly basis, the Q3-23 net profits increased by 53.53% from the SAR 47.79 million reported in Q2-23, while the revenues rose by 12.30% from SAR 245.19 million.

It is worth highlighting that in October 2023, NMC obtained two loans worth SAR 500 million combined from Riyad Bank.