Financial Results : NCLE profit rises 23% to SAR 38.1M in Q1 ended Oct. 31

NCLE profit rises 23% to SAR 38.1M in Q1 ended Oct. 31

11/12/2024 Argaam Exclusive

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National Co. for Learning and Education (NCLE) reported a net profit of SAR 38.1 million for the first quarter ended Oct. 31, up 23% from SAR 31.1 million in the year-earlier period ended Nov. 30.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 140.70 163.66 16.3 %
Gross Income 59.58 73.50 23.4 %
Operating Income 36.39 43.97 20.8 %
Net Income 31.06 38.11 22.7 %
Average Shares 43.00 43.00 -
EPS (Riyals) 0.72 0.89 22.7 %

The company’s revenues rose 16% year-on-year (YoY), driven primarily by a 31% increase in student enrollment, from 28,000 students in Q1 2023/24 to 31,800 in Q1 2024/25.

 

Moreover, four new educational complexes were inaugurated in Riyadh at the beginning of 2024/25.

 

On a quarterly basis, the company posted net earnings of SAR 57.98 million in Q4 2023/24, down 34.3%.

 

Shareholders’ equity, no minority interest, amounted to SAR 831.91 million in the current period, compared to SAR 735.75 million in the prior-year period ended Nov. 30.

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