Riyadh – Mubasher: Ataa Educational Company achieved a net profit after Zakat and tax worth SAR 17.65 million during the nine-month period ended on 30 April 2021, a plummet of 61.5% from SAR 45.87 million in the same period a year earlier.

Revenues shrank 25% to SAR 186.94 million in the nine months ended in April 2021, from SAR 249.67 million in the prior-year period, according to a bourse disclosure on Thursday.

During the third quarter (Q3) from February to April 2021, the net profits stood at SAR 6.34 million, a plunge of 48.6% from SAR 12.34 million in the same quarter a year earlier. Revenues also decreased by 25.6% annually to SAR 62.53 million from SAR 84.08 million during the same timeframe.

On a quarterly basis, the net profits in Q3 ended on 30 April 2021 were 0.75% lower than SAR 6.39 million in Q2 ended 31 January this year.

Revenues also declined by 1% during the February-April 2021 period from SAR 63.18 million in Q2 from November 2020 until January this year.

It is worth noting that the fiscal year (FY) of Ataa Educational starts in August and ends in July the following year.