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National Mineral Water Q1 loss narrows YOY

National Mineral Water Co. SAOG said its first-quarter normalized net income was a loss of 8,900 rials, compared with a loss of 107,510 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 negative 0.4% from negative 6.6% in the year-earlier period.

Total revenue increased 24.0% year over year to 2.0 million rials from 1.6 million rials, and total operating expenses increased 14.9% year over year to 2.1 million rials from 1.8 million rials.

Reported net income totaled a loss of 82,130 rials, or a loss of 0 baiza per share, compared to a loss of 234,540 rials, or a loss of 1 baiza per share, in the prior-year period.

As of May 11, US$1 was equivalent to 38 Oman baiza.