Estithmar Holding's net profit* increases 10% to QAR 112 million in Q1 of 2024
*Net profit attributable to shareholders
Estithmar Holding Q.P.S.C. discloses its financial results as follows:
- Total revenue of QAR 796.6 million with a 3.9% increase from Q1 2023
- Total gross profit of QAR 195.7 million with a 14.9% increase from Q1 2023
- Net profit including minority rights of QAR 112.5 million with a 9.8% increase from Q1 2023
- Net profit attributable to shareholders of QAR 111.7 million with a 10.4% increase from Q1 2023
DOHA, Qatar, April 29, 2024 /PRNewswire/ -- Estithmar Holding announced its financial results for the first quarter; for the period ended 31 March 2024, with total revenues of QAR 796.6 million marking a 3.9% increase over the same period last year, and net profit attributable to shareholders of QAR 111.7 million marking a 10.4% increase over the same period in 2023.
On this occasion, Eng. Mohammed Bin Bader Al-Sadah, Group CEO of Estithmar Holding commented: "The financial results of the first quarter reflect Estithmar Holding's ongoing commitment to its overarching plan which emphasizes development and growth, especially that all our four sectors have played a pivotal role in driving revenue growth, with a particular and strong contribution from the healthcare sector.
"We are now reaping the rewards of our investments and endeavors in this promising sector, notably through The View Hospital in collaboration with Cedars Sinai, where this partnership has yielded numerous successes and achievements at both local and regional levels, drawing a significant influx of visitors. Furthermore, our emphasis on enhancing the international visiting doctors' program, featuring medical experts from prominent countries, has further distinguished us. The View hospital has successfully facilitated and operated several groundbreaking medical procedures, marking a milestone in the region's healthcare landscape.
"Estithmar Holding continues to expand regionally in this vital and pivotal sector, which is a key pillar for fostering excellence and growth, especially after the success of the company's model, in securing impactful agreements and through exceptional global partnerships.
Furthermore, we are totally committed to executing our business strategy that emphasizes diversification of our revenue streams while expanding both locally and regionally across all sectors. This approach ensures sustainable growth and enhances value for shareholders."
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