National Medical Care Co. (Care) reported a net profit after Zakat and tax of SAR 35.7 million for the first quarter of 2021, an 8% increase, from SAR 33.2 million in the same period last year.
| Item | Q1 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 195.02 | 214.19 | 9.8 % |
| Gross Income | 52.22 | 63.64 | 21.9 % |
| Operating Income | 36.28 | 42.18 | 16.3 % |
| Net Income | 33.17 | 35.73 | 7.7 % |
| Average Shares | 44.85 | 44.85 | - |
| EPS (Riyals) | 0.74 | 0.80 | 7.7 % |
| Item | Q4 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 214.60 | 214.19 | (0.2 %) |
| Gross Income | 61.73 | 63.64 | 3.1 % |
| Operating Income | 25.36 | 42.18 | 66.3 % |
| Net Income | 22.00 | 35.73 | 62.4 % |
| Average Shares | 44.85 | 44.85 | - |
| EPS (Riyals) | 0.49 | 0.80 | 62.4 % |
The company attributed the profit rise to higher revenue by 10%, and increase in gross profit margin to 3%.
This was partially offset by higher general and administrative expenses and Zakat charges.
When compared to the previous quarter, Q1 net profit increased 62.4% due to higher gross profit margin, and lower operating expenses.
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