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Al Batnah Hotels Q1 profit climbs YOY

Al Batnah Hotels Co. SAOG said its first-quarter normalized net income came to 50,260 rials, a gain from 20,660 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 increased to 12.8% from 7.1% in the year-earlier period.

Total revenue increased 35.6% on an annual basis to 394,150 rials from 290,750 rials, and total operating expenses grew 21.7% on an annual basis to 313,730 rials from 257,700 rials.

Reported net income totaled 80,420 rials, compared with 32,280 rials in the prior-year period.

As of May 5, US$1 was equivalent to 39 Oman baiza.