Financial Results : National Learning net profit surges to SAR 18.1 mln in Q1 2021/22

National Learning net profit surges to SAR 18.1 mln in Q1 2021/22

06/01/2022 Argaam Exclusive

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National Company for Learning and Education (NCLE) reported a net profit after Zakat and tax of SAR 18.1 million for the first quarter ending Nov. 30, 2021, an increase of more than four-fold, from SAR 3.79 million in the year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 44.45 74.38 67.3 %
Gross Income 13.91 30.38 118.4 %
Operating Income 5.29 20.41 285.9 %
Net Income 3.79 18.10 377.9 %
Average Shares 43.00 43.00 -
EPS (Riyals) 0.09 0.42 377.9 %

This increase was driven by a 74% increase year-on-year (YoY) in revenue on higher student enrollment and increased tuition fees.

 

On a sequential basis, Q1 2021/22 net profit after Zakat and tax more than doubled due to 60% higher revenue.

 

Total shareholders’ equity, excluding minority equity, inched up 0.6% YoY to SAR 631.18 million for Q1 2021/2022.

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