Knowledge Tower’s net profit slips 2% to SAR 3.6 mln in FY 2021/22

Knowledge Tower Trading Co. reported a net profit of SAR 3.6 million for the fiscal year ended on March 31, 2022, a 2% decline from SAR 3.7 million in the year-earlier period.

This profit drop was attributed to a 56% increase year-on-year (YoY) in cost of sales, along with a more than 100% surge YoY in operating expenses. The company also cited higher cost of finance and Zakat provisions.

Shareholders’ equity, excluding minority interest, reached SAR 21.07 million by the end of FY ended on March 31, 2022, compared to SAR 4.89 million a year.

The company generated SAR 17.68 million in revenue from books, SAR 1.84 million from robotics and steam programs, and SAR 877,000 in revenue from other programs for the same FY.