Riyadh – Mubasher: Dallah Healthcare Holding reported a net profit of SAR 61.1 million ($16.29 million) in the third quarter of 2016, up 127.99% from SAR 26.8 million ($7.14 million) recorded in the year-ago period.
The company’s profits were up 54.4% on a quarter-on-quarter basis, according to a bourse filing released Tuesday.
The healthcare firm achieved SAR 173.8 million in the nine-month period ended 30 September 2016, up 57.29% year-on-year from SAR 110.5 million.
Profit growth in Q3-16 compared to the year-ago period was due to an increase in the volume of revenues on the back of a rise in the number of inpatients and outpatients, Dallah said.
It added that this growth resulted in a rise in operating capacity, and positively affected its profitability.
Dallah achieved the quarter-on-quarter profit increase despite a rise in general and administrative expenses.
Meanwhile, the nine-month gain was due to “opening and operating North-Clinics Building with improvement of some contractual terms for services, which [led to an increase] in overall operating efficiency and positively [affected] the company's profitability.”
