Nahdi profit reaches SAR 235.7M in Q1 2026

Nahdi Medical Co.’s net profit declined to SAR 235.7 million in Q1 2026, compared to SAR 255.2 million in Q1 2025.

The company said the decline in net profit during Q1 2026 was driven by a SAR 9.2 million increase in post-operating items, mainly due to Zakat provisions, following a low base effect in the prior-year period after a one-off zakat reversal.

Operating profit declined 3.8% YoY to SAR 259.7 million from SAR 270 million on higher operating expenses (OpEx).

Despite this, revenue rose 6.1% YoY to SAR 2.79 billion. Retail sales increased 4.7%, supported by growth in both pharmaceutical and non-pharmaceutical products. The healthcare segment and regional operations also recorded strong growth of 34.8% and 31.8%, respectively.

Gross profit increased 4.7% YoY to SAR 987.7 million, compared with SAR 943.8 million in Q1 2025, driven by higher sales across key segments. However, the gross margin slightly declined to 35.3% from 35.8%, reflecting a change in business mix, with faster growth in healthcare services and e-commerce platforms, alongside continued investment to support sales expansion.

Excluding the one-off zakat reversal of SAR 17.8 million, the company noted that underlying performance remained stronger.

On a sequential basis, the company attributed the increase in profit to a 7.9% rise in sales, supported mainly by seasonality due to the Ramadan period, along with higher gross profit resulting from increased revenues.

Shareholders’ equity (excluding minority interest) stood at SAR 2.61 billion at the end of March 2026, compared with SAR 2.44 billion in the same period last year.

Other comprehensive income increased, driven by lower actuarial expenses following a reassessment of end-of-service benefits assumptions.

According to Nahdi’s governance framework, it strictly adheres to Islamic Sharia principles across all business activities, including banking and investment operations. Accordingly, all related costs and revenues are Sharia-compliant.

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