Ataa Educational Co. reported a net profit after Zakat and tax of SAR 71.3 million for the first nine months of 2021/22 ending on April 30, 2022, a sharp rise from SAR 17.7 million in the year earlier period.
| Item | 9m 2021 | 9m 2022 | Change |
|---|---|---|---|
| Revenues | 186.95 | 418.60 | 123.9 % |
| Gross Income | 45.99 | 87.77 | 90.8 % |
| Operating Income | 27.97 | 38.97 | 39.3 % |
| Net Income | 17.65 | 55.57 | 214.9 % |
| Average Shares | 40.00 | 42.09 | 5.2 % |
| EPS (Riyals) | 0.44 | 1.32 | 199.2 % |
The profit jump followed a 121% year-on-year (YoY) rise in revenues, and 233% YoY increase in other revenue.
The company also noted non-recurring profits resulting from the acquisition of Arabian Education and Training Group Holding Co., amounting to SAR 52.5 million.
| Item | Q3 2021 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 62.53 | 142.89 | 128.5 % |
| Gross Income | 15.62 | 23.72 | 51.8 % |
| Operating Income | 10.10 | 9.49 | (6.1 %) |
| Net Income | 6.34 | 3.15 | (50.4 %) |
| Average Shares | 40.00 | 42.09 | 5.2 % |
| EPS (Riyals) | 0.16 | 0.07 | (52.9 %) |
| Item | Q2 2022 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 135.97 | 142.89 | 5.1 % |
| Gross Income | 25.45 | 23.72 | (6.8 %) |
| Operating Income | 8.54 | 9.49 | 11.1 % |
| Net Income | 1.01 | 3.15 | 210.9 % |
| Average Shares | 42.09 | 42.09 | - |
| EPS (Riyals) | 0.02 | 0.07 | 210.9 % |
The net profit after Zakat and tax slumped 43.1% YoY to SAR 3.61 million in Q3 2021/22, as administrative expenses increased due to the consolidation of the financial statements with the acquired companies.
Ataa Educational also noted a rise in financing costs.
On a sequential basis, net profit jumped from SAR 1.48 million in Q2 2021/22.
Shareholders’ equity, after minority interest, increased to SAR 776.1 million as of April 30, 2022, from SAR 727.4 million a year earlier.
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