National Company for Learning and Education (NCLE) reported net profit after Zakat and tax of SAR 8.4 million for H1 2020/2021 ending Feb. 28, 2021, a decline of 67% year-on-year (YoY), on providing 10-15% discount on tuitions for the current academic year, in addition to lower revenue and higher cost of finance.
The second-quarter net profit after Zakat and tax dropped 66% YoY to SAR 4.6 million, driven by lower revenue on tuition discounts and the implementation of the online learning for 2020/2021.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Revenues | 108.58 | 91.05 | (16.1 %) |
| Gross Income | 44.44 | 30.42 | (31.5 %) |
| Operating Income | 26.52 | 12.05 | (54.6 %) |
| Net Income | 25.08 | 8.35 | (66.7 %) |
| Average Shares | 43.00 | 43.00 | - |
| EPS (Riyals) | 0.58 | 0.19 | (66.7 %) |
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 56.49 | 46.60 | (17.5 %) |
| Gross Income | 24.22 | 16.51 | (31.8 %) |
| Operating Income | 14.18 | 6.76 | (52.3 %) |
| Net Income | 13.44 | 4.56 | (66.0 %) |
| Average Shares | 43.00 | 43.00 | - |
| EPS (Riyals) | 0.31 | 0.11 | (66.0 %) |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 44.45 | 46.60 | 4.8 % |
| Gross Income | 13.91 | 16.51 | 18.7 % |
| Operating Income | 5.29 | 6.76 | 27.9 % |
| Net Income | 3.79 | 4.56 | 20.5 % |
| Average Shares | 43.00 | 43.00 | - |
| EPS (Riyals) | 0.09 | 0.11 | 20.5 % |
When compared to the previous quarter, NCLE’s net profit increased 20.5%.
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