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National Detergent Q2 profit climbs 76.4% YOY

National Detergent Co. SAOG said its second-quarter normalized net income amounted to 183,760 rials, a rise of 76.4% from 104,150 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 increased to 3.4% from 2.0% in the year-earlier period.

Total revenue climbed year over year to 5.4 million rials from 5.2 million rials, and total operating expenses increased on an annual basis to 5.1 million rials from 5.0 million rials.

Reported net income grew 76.4% from the prior-year period to 258,740 rials, or 2 baiza per share, from 146,650 rials, or 1 baiza per share.

As of July 26, US$1 was equivalent to 39 Oman baiza.