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National Detergent Q1 profit falls YOY

National Detergent Co. SAOG said its first-quarter normalized net income amounted to 127,920 rials, a decrease of 32.4% from 189,170 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 dropped to 1.9% from 2.9% in the year-earlier period.

Total revenue climbed year over year to 6.8 million rials from 6.6 million rials, and total operating expenses climbed from the prior-year period to 6.5 million rials from 6.2 million rials.

Reported net income decreased 32.0% on an annual basis to 183,680 rials, or 1 baiza per share, from 269,950 rials, or 2 baiza per share.

As of April 23, US$1 was equivalent to 39 Oman baiza.