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Dhofar University fiscal Q3 profit climbs 15.6% YOY

Dhofar University SAOG said its normalized net income for the fiscal third quarter ended May 31 was 7 Oman baiza per share, a gain of 15.6% from 6 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 939,520 rials, an increase of 15.6% from 812,590 rials in the prior-year period.

The normalized profit margin climbed to 24.8% from 23.4% in the year-earlier period.

Total revenue increased 9.7% on an annual basis to 3.8 million rials from 3.5 million rials, and total operating expenses grew 7.0% from the prior-year period to 2.4 million rials from 2.2 million rials.

Reported net income rose 12.2% from the prior-year period to 1.4 million rials, or 10 baiza per share, from 1.3 million rials, or 9 baiza per share.

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