Ataa Educational Co. reported a net profit after Zakat and tax of SAR 11.3 million for H1 2020/21 ending on Jan. 31, 2021, down 66%, compared to a net profit of SAR 33.5 million a year earlier.
The drop in net profit was attributed to a 25% decline year-on-year (YoY) in revenue, as Ataa offered additional discounts amid suspension of education at schools and the implementation of distance learning. In addition, the student count decreased by 10% YoY. Other revenues also fell by 57% YoY due to the suspension of student activities, closure of schools amid the COVID-19 outbreak.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Revenues | 165.59 | 124.41 | (24.9 %) |
| Gross Income | 50.41 | 30.37 | (39.8 %) |
| Operating Income | 37.07 | 17.87 | (51.8 %) |
| Net Income | 33.54 | 11.31 | (66.3 %) |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | 0.84 | 0.28 | (66.3 %) |
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 84.48 | 63.19 | (25.2 %) |
| Gross Income | 24.89 | 16.66 | (33.0 %) |
| Operating Income | 18.57 | 10.01 | (46.1 %) |
| Net Income | 17.28 | 6.39 | (63.0 %) |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | 0.43 | 0.16 | (63.0 %) |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 61.23 | 63.19 | 3.2 % |
| Gross Income | 13.71 | 16.66 | 21.6 % |
| Operating Income | 7.86 | 10.01 | 27.3 % |
| Net Income | 4.92 | 6.39 | 30.0 % |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | 0.12 | 0.16 | 30.0 % |
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