National Learning net profit triples to SAR 54.9 mln in 9M 2021/22; Q3 at SAR 18.6 mln

30/06/2022 Argaam Exclusive

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National Co. for Learning and Education reported a net profit after Zakat and tax of SAR 54.9 million for the nine months ended May 31, 2022, a 214% increase from SAR 17.5 million in the same period a year earlier.

Financials (M)

Item	9m 2021	9m 2022	Change‬
Revenues	139.90	233.72	67.1 %
Gross Income	48.94	92.17	88.3 %
Operating Income	23.02	60.71	163.7 %
Net Income	17.50	54.87	213.6 %
Average Shares	43.00	43.00	-
EPS (Riyals)	0.41	1.28	213.6 %

The increase in net profit is mainly due to the higher number of students enrolled in the company’s schools and the rise in tuition fees compared to the year-ago period, which included exceptional discounts to combat the COVID-19 repercussions.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2021	Q3 2022	Change‬
Revenues	48.85	82.05	68.0 %
Gross Income	18.52	31.99	72.8 %
Operating Income	10.97	20.60	87.8 %
Net Income	9.15	18.56	102.9 %
Average Shares	43.00	43.00	-
EPS (Riyals)	0.21	0.43	102.9 %

Item	Q2 2022	Q3 2022	Change‬
Revenues	77.29	82.05	6.2 %
Gross Income	29.80	31.99	7.3 %
Operating Income	19.70	20.60	4.6 %
Net Income	18.21	18.56	1.9 %
Average Shares	43.00	43.00	-
EPS (Riyals)	0.42	0.43	1.9 %

National Learning posted a net profit of SAR 18.56 million for Q3 2021/2022, an increase of 102% from SAR 9.1 million in the same period last year.

Sequentially, net profit rose slightly compared to SAR 18.2 million in Q2 2021/2022.

Total shareholders’ equity, excluding minority interest, stood at SAR 635.67 million as of May 31, 2022, rising from SAR 607.83 million a year earlier.

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