Increasing the number of visitors to the company’s hospitals and occupancy rates supports profits
The net profit of Dallah Health Services Company “Dallah Health” increased by 14.65% in the first quarter of 2023, to about 94.7 million riyals, after zakat and tax, compared to about 82.6 million riyals in the first quarter of 2022.
Likewise, the company’s profits increased by 20.79% in the first quarter of 2023, compared to a net profit of about 78.4 million riyals in the fourth quarter of 2022.
And Dallah Health attributed, in a statement to Tadawul Saudi Arabia, today, Monday, the increase in quarterly profits, on a quarterly basis, to the increase in revenues for the first quarter of 2023 by 18%, to reach 717 million riyals, compared to 609 million riyals for the same quarter of 2022.
The increase in revenues is mainly due to the increase in the number of visitors to the company’s hospitals and the increase in occupancy rates in both inpatient departments and outpatient clinics, and thus the net profit before zakat and financing cost, depreciation and amortization (EBITDA) increased by 26% to reach 167 million riyals for the first quarter of 2023 compared to 133 Million riyals for the same period of 2022.
She indicated that the company’s share of losses from investing in invested companies using the equity method decreased by 8 million riyals, to reach 2 million riyals for the first quarter of 2023, compared to about 10.4 million riyals for the same quarter of the previous year, due to the improved performance of the investee companies.
She explained that this is despite the increase in financing expenses, to reach 28 million riyals during the first quarter of 2023 AD, compared to 11 million riyals during the same quarter of 2022 AD.
2023-05-22 06:00:00
#Saudi #market #Dallah #Healthcare #profits #grew #million #riyals #quarter
