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.
| 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 % |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 47.30 | 74.38 | 57.3 % |
| Gross Income | 21.47 | 30.38 | 41.5 % |
| Operating Income | 10.02 | 20.41 | 103.7 % |
| Net Income | 6.96 | 18.10 | 160.1 % |
| Average Shares | 43.00 | 43.00 | - |
| EPS (Riyals) | 0.16 | 0.42 | 160.1 % |
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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