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Oman Education & Training fiscal Q2 profit climbs YOY

Oman Education & Training Investment Co. SAOG said its normalized net income for the fiscal second quarter ended Feb. 29 was 199,510 rials, an increase from 65,640 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 5.6% from 2.0% in the year-earlier period.

Total revenue climbed 6.0% on an annual basis to 3.5 million rials from 3.3 million rials, and total operating expenses climbed on an annual basis to 3.3 million rials from 3.2 million rials.

Reported net income increased on an annual basis to 269,740 rials, or 0 baiza per share, from 101,400 rials, or 0 baiza per share.

As of March 25, US$1 was equivalent to 39 Oman baiza.