Riyadh – Mubasher: The National Company for Learning and Education (NCLE) posted a decline of 52.9% in net profits after Zakat and tax to SAR 17.49 million during the nine-month period that ended on 31 May 2021, compared to SAR 37.2 million in the prior-year period.

Earnings per share stood at SAR 0.41 in the first nine months of fiscal year (FY) 2020/2021, compared to SAR 0.87 in the same period in FY19/20, according to the interim financial results on Thursday.

Revenues shrank by 18.8% on an annual basis to SAR 130.36 million in the period from September 2020 until May 2021, when compared to SAR 160.67 million in the corresponding nine months a year earlier.

As for the third quarter (Q3) of FY20/21 that ended last May, NCLE registered a decline of 24.5% in net profits to SAR 9.14 million from SAR 12.12 million in Q3-FY19/20.

Revenues also plunged 18.5% to SAR 45.4 million in Q3 that ended in 2021 from SAR 55.72 million in Q3 that ended in 2020.

On a quarterly basis, the net profits in Q3-FY20/21 were higher by 100% than SAR 4.56 million in the prior-year Q3. Revenues were also higher by 5.97% from SAR 42.84 million.