Maharah HR Profit Falls 26% Despite Revenue Surge
Riyadh, Saudi Arabia — Maharah Human Resources Co. reported a sharp drop in quarterly net profit even as revenue climbed at a double-digit pace. Net profit attributable to shareholders fell 26.07% year-on-year to 45.39 million SAR in Q3 2026, down from 61.40 million SAR in the same quarter last year. A steep decline in associate […] The post Maharah HR Profit Falls 26% Despite Revenue Surge…
Maharah Human Resources Co. saw its net profit plummet 26.07% year-over-year to SAR 45.39 million in Q3 2026, despite revenue climbing 20.28% to SAR 949.87 million. The decline was driven by lower associate earnings and higher operating costs. However, over the nine months to September 30, 2026, the company's net profit rose 18.27% to SAR 177.70 million, with revenue increasing 24.25% to SAR 2,803.05 million.
The auditor issued a qualified opinion due to the valuation uncertainty around Maharah's associate, Saudi Medical Systems Company, which contributed significantly less to earnings in Q3 compared to the previous year.
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