The net profits after Zakat attributable to the owners of Bupa Arabia for Cooperative Insurance Company hit SAR 359.42 million in the first quarter (Q1) of 2024.

The quarterly net profits jumped by 90.57% from SAR 188.59 million in Q1-23, according to the interim consolidated financial results.

Bupa Arabia generated 16.62 % year-on-year (YoY) higher insurance revenues at SAR 4.37 billion as of 31 March 2024, compared to SAR 3.75 billion.

In the first three months (3M) of 2024, the earnings per share (EPS) increased to SAR 2.40 from SAR 1.26 a year earlier.

Quarter-on-quarter (QoQ), the net profits in Q1-24 enlarged by 242.74% from SAR 104.86 million in October-December 2023, while the revenues grew by 5.15% from SAR 4.15 billion.

Last year, the company’s net profits after Zakat attributable to the shareholders surged by 16.77% to SAR 940.16 million from SAR 805.11 million in 2022.

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