Ataa Educational Co. reported a rise of 3% year-on-year (YoY) in net profit after Zakat and tax to SAR 45.9 million for the nine-month period ending April 30, 2020, driven by a 5% YoY increase in revenue, as student number grew by 4% YoY.
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Revenues | 237.65 | 249.68 | 5.1 % |
| Gross Income | 64.16 | 75.56 | 17.8 % |
| Operating Income | 46.55 | 52.80 | 13.4 % |
| Net Income | 44.77 | 45.88 | 2.5 % |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | 1.12 | 1.15 | 2.5 % |
| Item | Q3 2019 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 79.74 | 84.09 | 5.5 % |
| Gross Income | 19.39 | 25.15 | 29.7 % |
| Operating Income | 12.87 | 15.73 | 22.3 % |
| Net Income | 12.01 | 12.34 | 2.8 % |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | 0.30 | 0.31 | 2.8 % |
| Item | Q2 2020 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 84.48 | 84.09 | (0.5 %) |
| Gross Income | 24.89 | 25.15 | 1.1 % |
| Operating Income | 18.57 | 15.73 | (15.2 %) |
| Net Income | 17.28 | 12.34 | (28.6 %) |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | 0.43 | 0.31 | (28.6 %) |
The third quarter net profit after Zakat and tax grew by 3% YoY to SAR 12.3 million, thanks to higher revenue and student numbers, despite increased doubtful debt provisions and higher provisions for the COVID-19 pandemic.
On a quarterly basis, Q3 earnings dropped 28.6%, on a 39% slump in other income amid suspension of student activities, and lessons as well as closure of schools.
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