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Oman Education & Training fiscal Q1 profit climbs 95.4% YOY

Oman Education & Training Investment Co. SAOG said its normalized net income for the fiscal first quarter ended Nov. 30 amounted to 325,330 rials, a rise of 95.4% from 166,500 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 9.3% from 5.0% in the year-earlier period.

Total revenue grew 11.9% on an annual basis to 3.7 million rials from 3.3 million rials, and total operating expenses climbed from the prior-year period to 3.2 million rials from 3.1 million rials.

Reported net income rose 91.5% from the prior-year period to 444,000 rials, or 1 baiza per share, from 231,880 rials, or 0 baiza per share.

As of Dec. 31, US$1 was equivalent to 39 Oman baiza.