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National Mineral Water Q3 profit climbs 79.8% YOY

National Mineral Water Co. SAOG said its third-quarter normalized net income amounted to 21,420 rials, a gain of 79.8% from 11,910 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 rose to 1.1% from 0.5% in the year-earlier period.

Total revenue decreased 14.5% year over year to 1.9 million rials from 2.3 million rials, and total operating expenses decreased 14.8% on an annual basis to 1.9 million rials from 2.3 million rials.

Reported net income came to a loss of 34,010 rials, or a loss of 0 baiza per share, compared to a loss of 44,950 rials, or a loss of 0 baiza per share, in the prior-year period.

As of Nov. 9, US$1 was equivalent to 39 Oman baiza.