Riyadh - Mubasher: The net profits of the National Company for Learning and Education (NCLE) increased by 20.04% to SAR 31.05 million in the first quarter (Q1) of fiscal year (FY) 2023/2024 from SAR 25.87 million in the same period a year ago.

NCLE recorded revenues of SAR 140.69 million in Q1-23/24, up by 33.93% year-on-year (YoY) from SAR 105.04 million, according to the interim income statements.

The earnings per share (EPS) reached SAR 0.72 in September-November 2023, an annual increase from SAR 0.60.

On a quarterly basis, the Q1-23/24 net profits surged by 48.46% from SAR 20.91 million in Q4-22/23, while the revenues rose by 23.10% from SAR 114.29 million.

In FY22/23, which ended on 31 August 2023, NCLE's net profits after Zakat and tax surged by 43.26% YoY to SAR 101.78 million from SAR 71.04 million.