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Oman Education & Training swings to profit in fiscal Q2

Oman Education & Training Investment Co. SAOG said its normalized net income for the fiscal second quarter ended Feb. 28 amounted to 37,090 rials, compared with a loss of 72,370 rials in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 2.0% from negative 2.1% in the year-earlier period.

Total revenue rose 10.0% year over year to 3.8 million rials from 3.4 million rials, and total operating expenses rose from the prior-year period to 3.7 million rials from 3.6 million rials.

Reported net income came to 38,980 rials, or 0 baiza per share, compared to a loss of 115,780 rials, or a loss of 0 baiza per share, in the year-earlier period.

As of March 24, US$1 was equivalent to 39 Oman baiza.