National Company for Learning and Education (NCLE) reported a net profit after Zakat and tax of SAR 25.9 million for the first quarter ending Nov. 30, 2022, leaping 43% from SAR 18.1 million in the year-earlier period.
| Item | Q1 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 74.38 | 105.05 | 41.2 % |
| Gross Income | 30.38 | 44.62 | 46.9 % |
| Operating Income | 20.41 | 28.12 | 37.8 % |
| Net Income | 18.10 | 25.87 | 42.9 % |
| Average Shares | 43.00 | 43.00 | - |
| EPS (Riyals) | 0.42 | 0.60 | 42.9 % |
| Item | Q4 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 81.97 | 105.05 | 28.2 % |
| Gross Income | 34.34 | 44.62 | 29.9 % |
| Operating Income | 18.28 | 28.12 | 53.8 % |
| Net Income | 16.18 | 25.87 | 59.9 % |
| Average Shares | 43.00 | 43.00 | - |
| EPS (Riyals) | 0.38 | 0.60 | 59.9 % |
The net profit increase was due to a 43% rise year-on-year (YoY) in revenue, which resulted mainly from a 40% growth in the number of students enrolled in the company’s schools to 21,600 from 15,500 in the same quarter of the previous year. In addition, all educational campuses witnessed growth in the number of students during the current year compared to the previous year.
On a sequential basis, Q1 2022/23 net profit after Zakat and tax climbed 59.9% from SAR 16.18 million, driven by a 32% increase in revenue.
Total shareholders’ equity, with no minority equity, rose 7.54% YoY to SAR 678.79 million for Q1 2022/23, compared with SAR 631.18 million a year earlier.
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