Alkhaleej Training and Education Co.’s net profit after Zakat and tax plunged 98% to SAR 332,000 in 9M 2021, from SAR 15.6 million in the year-earlier period.
| Item | 9m 2020 | 9m 2021 | Change |
|---|---|---|---|
| Revenues | 579.33 | 610.51 | 5.4 % |
| Gross Income | 111.41 | 82.76 | (25.7 %) |
| Operating Income | 45.72 | 27.72 | (39.4 %) |
| Net Income | 15.59 | 0.33 | (97.9 %) |
| Average Shares | 55.42 | 55.42 | - |
| EPS (Riyals) | 0.28 | 0.01 | (97.9 %) |
The company noted a decrease in cost of revenue, financing expenses and general and administrative expenses, despite the SANED subsidy.
| Item | Q3 2020 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 183.97 | 211.24 | 14.8 % |
| Gross Income | 42.49 | 36.43 | (14.3 %) |
| Operating Income | 15.38 | 16.32 | 6.1 % |
| Net Income | 6.53 | 7.94 | 21.5 % |
| Average Shares | 55.42 | 55.42 | - |
| EPS (Riyals) | 0.12 | 0.14 | 21.5 % |
| Item | Q2 2021 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 193.40 | 211.24 | 9.2 % |
| Gross Income | 29.41 | 36.43 | 23.9 % |
| Operating Income | 10.53 | 16.32 | 55.0 % |
| Net Income | 0.00 | 7.94 | 264666.7 % |
| Average Shares | 55.42 | 55.42 | - |
| EPS (Riyals) | 0.00 | 0.14 | 264666.7 % |
The net profit after Zakat and tax rose 22% year-on-year (YoY) to SAR 8 million in Q3 2021, due to higher revenue.
On a sequential basis, the firm swung to net profit from a loss of SAR 3,416.
Shareholders’ equity, after minority interest, increased to SAR 661.82 million as of Sept. 30, 2021, from SAR 639.42 million a year earlier.
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