Saudi: Nahdi Medical generates $176.5mln profits in 9M-24

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Nahdi Medical Company logged net profits valued at SAR 662.90 million in the first nine months (9M) of 2024, lower by 8.19% year-on-year (YoY) than SAR 722.10 million.

Revenues amounted to SAR 7.08 billion in 9M-24, an annual growth of 8.98% from SAR 6.49 billion, according to the initial financial results.

The earnings per share (EPS) declined to SAR 5.10 as of 30 September 2024 from SAR 5.55 a year earlier.

Financials for Q3-24

In the third quarter (Q3) of 2024, Nahdi Medical posted a 14.37% plunge in net profit to SAR 182.20 million, compared to SAR 212.80 million a year earlier.

The company generated revenues valued at SAR 2.35 billion in the July-September 2024 period, an annual rise of 8.80% from SAR 2.16 billion.

Quarterly, the Q3-24 net profits shrank by 26.44% from SAR 247.70 million in Q2-24, while the revenues fell by 4.82% from SAR 2.47 billion.