Riyadh – Mubasher: Nahdi Medical Company reported a 4.66% year-on-year (YoY) decline in net profit to SAR 232.90 million in the first quarter (Q1) of 2024 from SAR 244.30 million.

Revenues increased by 7.24% YoY to SAR 2.25 billion in Q1-24 from SAR 2.10 billion, according to the interim financial results.

The earnings per share (EPS) reached SAR 1.79 in the three-month period that ended on 31 March 2024, down from SAR 1.88 in the corresponding period a year earlier.

Quarter-on-quarter (QoQ), the company’s net profit soared 36.59% in Q1-24 from SAR 170.50 million in Q4-23, while the revenues rose by 1.95% from SAR 2.21 billion.

Nahdi Medical’s net profit inched higher by 0.54% YoY to SAR 892.60 million in 2023 from SAR 887.80 million.