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Dhofar Tourism Q1 loss narrows YOY

Dhofar Tourism Co. SAOG said its normalized net income for the first quarter amounted to a loss of 140,640 rials, compared with a loss of 208,650 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 negative 22.0% from negative 35.7% in the year-earlier period.

Total revenue rose 9.3% year over year to 638,050 rials from 584,000 rials, and total operating expenses fell 7.2% from the prior-year period to 853,590 rials from 919,510 rials.

Reported net income totaled a loss of 225,020 rials, or a loss of 1 baiza per share, compared to a loss of 333,840 rials, or a loss of 1 baiza per share, in the year-earlier period.

As of April 30, US$1 was equivalent to 39 Oman baiza.