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Petra Education Q3 profit falls YOY

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Petra Education Q3 profit falls YOY

Petra Education Co. Public Shareholding Co. said its normalized net income for the third quarter amounted to 2 Jordanian fils per share, a decline of 20.5% from 3 fils per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 336,620 dinars, a decline of 20.1% from 421,280 dinars in the year-earlier period.

The normalized profit margin dropped to 7.2% from 9.0% in the year-earlier period.

Total revenue came to 4.7 million dinars, compared with 4.7 million dinars in the year-earlier period, and total operating expenses grew from the prior-year period to 4.2 million dinars from 4.1 million dinars.

Reported net income fell 20.2% from the prior-year period to 428,600 dinars, or 3 fils per share, from 537,050 dinars, or 3 fils per share.

As of Oct. 27, US$1 was equivalent to 71 Jordanian fils.