Qatari German Company for Medical Devices (Q.P.S.C.) (QGMD) Earnings Call Transcript
October 31, 2024
Earnings Call Speaker Segments
Hello, and welcome to the Qatar German Medical Conference Call. Please note that this call is being recorded. [Operator Instructions] I'd like to hand over the call to Roy. You may begin.
Thanks, Angela. Hello, everyone. This is Roy Thomas from QNB Financial Services. I want to welcome everyone to Qatar German Medical Devices Company's Third Quarter and 9 Months 2024 Financial Results Conference Call. On this call from Qatar German Medical Devices Company, we have Amer Abu Shaikha, the Chief Executive Officer. We will conduct this conference call with Amer Abu Shaikha first reviewing the company's results followed by Q&A. I will turn the call now over to Amer. Go ahead.
Thank you very much, Roy. Good afternoon, everyone. I will start giving you an update about closing the financial for Q3 and the 9 months of 2024. We ended up closing our third quarter by having a revenue of QAR 9.2 million with a cost of sales of QAR 4 million, having a gross profit of QAR 5.2 million, which is equal to a percentage of 56%. We have other income about QAR 2 million, and we have discount expenses from G&A expenses, depreciation and finance costs, giving us a result of net loss of QAR 824,000 for the ending of the 9 months. The shortage of -- or the loss reasons for this is the -- getting a lack of -- a little bit of low sales during Q3. Hopefully, this will be turned on [indiscernible] profit in Q4 by increasing the revenue. Q3 usually is a low season, that's why we got a loss in this quarter. Hopefully, in the next quarter and then the next year will be more improvement on our revenue by adding different activities and different services into our business line. So we're looking forward. This is the update from my side for the financial of the 9 months.
Angela, you can open it up for Q&A, please.
We will now begin the question-and-answer session. [Operator Instructions]. We will pause for just a moment to compile the Q&A roster. There are no questions. I would now like to turn the call back over to Roy for any remarks.
All right. If there are no questions, we would like to thank Amer Abu Shaikha for the results update, and we look forward to speaking to you all for the final quarter results. Thank you.
Thank you very much, my friend, and thank you, guys.
That concludes today's conference call. Thank you all for joining. You may now disconnect.
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