Dhofar University SAOG said its normalized net income for the fiscal second quarter ended Feb. 28 amounted to 2 Oman baiza per share, a decrease of 49.2% 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 261,850 rials, a decline of 49.2% from 515,150 rials in the prior-year period.
The normalized profit margin dropped to 9.2% from 18.3% in the year-earlier period.
Total revenue came to 2.8 million rials, compared with 2.8 million rials in the prior-year period, and total operating expenses grew 23.1% on an annual basis to 2.5 million rials from 2.0 million rials.
Reported net income decreased 58.8% from the prior-year period to 318,960 rials, or 2 baiza per share, from 774,240 rials, or 6 baiza per share.
As of March 27, US$1 was equivalent to 39 Oman baiza.
