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National Detergent Q3 profit climbs YOY

National Detergent Co. SAOG said its normalized net income for the third quarter was 251,970 rials, a rise from 121,050 rials in the prior-year period.

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

The normalized profit margin climbed to 4.6% from 2.1% in the year-earlier period.

Total revenue decreased year over year to 5.5 million rials from 5.6 million rials, and total operating expenses decreased 6.3% from the prior-year period to 5.0 million rials from 5.4 million rials.

Reported net income rose on an annual basis to 354,770 rials, or 2 baiza per share, from 170,440 rials, or 1 baiza per share.

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