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Dhofar University fiscal Q1 profit falls YOY

Dhofar University SAOG said its normalized net income for the fiscal first quarter ended Nov. 30 came to 2 Oman baiza per share, a decline of 36.4% from 4 baiza per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 335,020 rials, a decline of 36.3% from 526,340 rials in the year-earlier period.

The normalized profit margin fell to 10.5% from 17.4% in the year-earlier period.

Total revenue rose 5.6% on an annual basis to 3.2 million rials from 3.0 million rials, and total operating expenses grew 21.9% year over year to 2.7 million rials from 2.2 million rials.

Reported net income decreased 41.2% year over year to 436,030 rials, or 3 baiza per share, from 742,150 rials, or 5 baiza per share.

As of Dec. 29, US$1 was equivalent to 39 Oman baiza.