Financial Results : Ataa Educational reports net profit of SAR 21.1mln in Q1 2022/23

Ataa Educational reports net profit of SAR 21.1mln in Q1 2022/23

05/12/2022 Argaam Exclusive

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Ataa Educational Co. reported a net profit after Zakat and tax of SAR 21.1 million for the first quarter ended Oct. 31, 2022, a 59% decline from SAR 51.4 million in the same period last year.



Current Quarter Comparison (M)

Compared With The
Item Q1 2022 Q1 2023 Change‬
Revenues 139.74 171.53 22.7 %
Gross Income 38.61 49.97 29.4 %
Operating Income 20.93 29.59 41.3 %
Net Income 51.41 21.06 (59.0 %)
Average Shares 42.09 42.09 0.0 %
EPS (Riyals) 1.22 0.50 (59.0 %)

The decline in net profit was attributed to realizing SAR 38.1 million non-recurring gains in the same quarter of the previous year resulting from the acquisition of the Arabian Education and Training Group.

 

Excluding the effect of these gains, considering that they are non-recurring and not a result of activity, there is an income increase in the current quarter of 58.4% year-on-year.

 

On a sequential basis, net profit rose 51% from SAR 13.65 million in Q4 2021/2022.

 

Shareholders’ equity, excluding minority interest, stood at SAR 880.706 million as of Oct. 31, 2022, up from SAR 810.992 million in the year-earlier period.

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