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National Detergent Q1 profit climbs YOY

National Detergent Co. SAOG said its normalized net income for the first quarter was 280,870 rials, a rise from 127,920 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 4.5% from 1.9% in the year-earlier period.

Total revenue fell 6.5% on an annual basis to 6.3 million rials from 6.8 million rials, and total operating expenses declined 10.5% on an annual basis to 5.8 million rials from 6.5 million rials.

Reported net income increased on an annual basis to 399,070 rials, or 2 baiza per share, from 183,680 rials, or 1 baiza per share.

As of April 25, US$1 was equivalent to 39 Oman baiza.