Financial Results : Ataa’s net profit rises 3% to SAR 45.9 mln in 9M

Ataa’s net profit rises 3% to SAR 45.9 mln in 9M

14/06/2020 Argaam Exclusive

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Ataa Educational Co. reported a rise of 3% year-on-year (YoY) in net profit after Zakat and tax to SAR 45.9 million for the nine-month period ending April 30, 2020, driven by a 5% YoY increase in revenue, as student number grew by 4% YoY.



Financials (M)

Item 9m 2019 9m 2020 Change‬
Revenues 237.65 249.68 5.1 %
Gross Income 64.16 75.56 17.8 %
Operating Income 46.55 52.80 13.4 %
Net Income 44.77 45.88 2.5 %
Average Shares 40.00 40.00 -
EPS (Riyals) 1.12 1.15 2.5 %


Current Quarter Comparison (M)

Compared With The
Item Q3 2019 Q3 2020 Change‬
Revenues 79.74 84.09 5.5 %
Gross Income 19.39 25.15 29.7 %
Operating Income 12.87 15.73 22.3 %
Net Income 12.01 12.34 2.8 %
Average Shares 40.00 40.00 -
EPS (Riyals) 0.30 0.31 2.8 %

The third quarter net profit after Zakat and tax grew by 3% YoY to SAR 12.3 million, thanks to higher revenue and student numbers, despite increased doubtful debt provisions and higher provisions for the COVID-19 pandemic.

 

On a quarterly basis, Q3 earnings dropped 28.6%, on a 39% slump in other income amid suspension of student activities, and lessons as well as closure of schools.

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