Ataa Educational Co. reported a net profit after Zakat and tax of SAR 17.7 million for the first nine months of 2020/21 ending on April 30, 2021, down 62%, compared to a net profit of SAR 45.9 million a year earlier.
Item | 9m 2020 | 9m 2021 | Change |
---|---|---|---|
Revenues | 249.68 | 186.95 | (25.1 %) |
Gross Income | 75.56 | 45.99 | (39.1 %) |
Operating Income | 52.80 | 27.97 | (47.0 %) |
Net Income | 45.88 | 17.65 | (61.5 %) |
Average Shares | 40.00 | 40.00 | - |
EPS (Riyals) | 1.15 | 0.44 | (61.5 %) |
The decrease in profit was attributed to a 26% drop in revenue year-on-year (YoY) on higher discounts, up 60% YoY, due to school closures and online learning and 8% lower students count compared to same period last year.
In addition, other revenue decreased by 50% due to the suspension of student activities and operation of canteens, as a result of school closures, despite operating cost falling by 20% YoY.
Item | Q3 2020 | Q3 2021 | Change |
---|---|---|---|
Revenues | 84.09 | 62.53 | (25.6 %) |
Gross Income | 25.15 | 15.62 | (37.9 %) |
Operating Income | 15.73 | 10.10 | (35.8 %) |
Net Income | 12.34 | 6.34 | (48.6 %) |
Average Shares | 40.00 | 40.00 | - |
EPS (Riyals) | 0.31 | 0.16 | (48.6 %) |
Item | Q2 2021 | Q3 2021 | Change |
---|---|---|---|
Revenues | 63.19 | 62.53 | (1.0 %) |
Gross Income | 16.66 | 15.62 | (6.3 %) |
Operating Income | 10.01 | 10.10 | 0.9 % |
Net Income | 6.39 | 6.34 | (0.8 %) |
Average Shares | 40.00 | 40.00 | - |
EPS (Riyals) | 0.16 | 0.16 | (0.8 %) |
The company’s net profit after Zakat and tax fell 49% to SAR 6.3 million YoY in Q3 2020/21, on the back of lower revenue and higher operating expenses.
On a sequential basis, net profit was down marginally.
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