Al-Mouwasat Medical Services achieved a 73.15% increase in profits for the third quarter of 2020, after zakat and tax, it reached 161.1 million riyals, compared to 93.04 million riyals in the quarter Similar from 2019.
According to Arabiya Net, the net profit of Al-Mouwasat increased by 39.2% in the third quarter of this year, compared to a net profit of about 115.73 million riyals in the second quarter of 2020.
During the first nine months of this year, the company's net profit increased by 32.45% to reach 384.86 million riyals, compared to 290.56 million riyals in the same period of 2019.
Al-Mouwasat said in a statement to the Saudi Stock Exchange Tadawul today, Thursday, that the reason for the increase in net profit during the current quarter, compared to the same quarter of the previous year, is due to the increase The result of the current quarter included a positive contribution achieved from the company's branch in Al-Khobar in exchange for a negative contribution of 15 million riyals during the same quarter of the previous year, in addition to the decrease in the financing cost, due to the decrease in the balance of loans in the amount of installments paid during the period as well On Low Cost of Borrowing (SIBOR).
Al-Mouwasat revenues amounted to 549.06 million riyals in the third quarter of this year, compared to 443.29 million riyals in the same quarter of 2019.
