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Petra Education Q1 profit climbs 8.8% YOY

Petra Education Co. Public Shareholding Co. said its first-quarter normalized net income was 17 Jordanian fils per share, an increase of 8.6% from 15 fils per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.7 million dinars, an increase of 8.8% from 2.5 million dinars in the prior-year period.

The normalized profit margin rose to 31.3% from 31.1% in the year-earlier period.

Total revenue increased 8.3% on an annual basis to 8.6 million dinars from 7.9 million dinars, and total operating expenses increased 8.1% on an annual basis to 4.5 million dinars from 4.2 million dinars.

Reported net income rose 8.8% on an annual basis to 3.4 million dinars, or 21 fils per share, from 3.1 million dinars, or 20 fils per share.

As of April 28, US$1 was equivalent to 71 Jordanian fils.