National Company for Learning and Education (NCLE) posted a 0.3% year-on-year (YoY) rise in net profit after Zakat and tax to SAR 37.2 million for the first nine months ending May 31, 2020.
The earnings slightly increased YoY due to consolidation of Al-Khawarzmi Education Company's financial statements, higher revenue, and lower depreciation expenses.
The third-quarter net profit after Zakat and tax decreased 10% YoY to SAR 12.1 million, driven by lower other income, higher cost of finance and increase Zakat expenses.
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Revenues | 156.12 | 165.79 | 6.2 % |
| Gross Income | 63.77 | 68.88 | 8.0 % |
| Operating Income | 35.79 | 40.76 | 13.9 % |
| Net Income | 37.10 | 37.21 | 0.3 % |
| Average Shares | 43.00 | 43.00 | - |
| EPS (Riyals) | 0.86 | 0.87 | 0.3 % |
When compared to the previous quarter, NCLE’s net profit dropped 9.79%.
| Item | Q3 2019 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 51.36 | 57.21 | 11.4 % |
| Gross Income | 21.32 | 24.44 | 14.6 % |
| Operating Income | 10.86 | 14.23 | 31.1 % |
| Net Income | 13.46 | 12.13 | (9.9 %) |
| Average Shares | 43.00 | 43.00 | - |
| EPS (Riyals) | 0.31 | 0.28 | (9.9 %) |
| Item | Q2 2020 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 56.49 | 57.21 | 1.3 % |
| Gross Income | 24.22 | 24.44 | 0.9 % |
| Operating Income | 14.18 | 14.23 | 0.4 % |
| Net Income | 13.44 | 12.13 | (9.8 %) |
| Average Shares | 43.00 | 43.00 | - |
| EPS (Riyals) | 0.31 | 0.28 | (9.8 %) |
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