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Dhofar University fiscal Q2 profit climbs 20.7% YOY

Dhofar University SAOG said its normalized net income for the fiscal second quarter ended Feb. 29 was 2 Oman baiza per share, a gain of 20.7% from 2 baiza per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 316,060 rials, an increase of 20.7% from 261,850 rials in the prior-year period.

The normalized profit margin rose to 10.2% from 9.2% in the year-earlier period.

Total revenue grew 9.2% year over year to 3.1 million rials from 2.8 million rials, and total operating expenses increased 7.0% year over year to 2.6 million rials from 2.5 million rials.

Reported net income rose 27.2% from the prior-year period to 405,690 rials, or 3 baiza per share, from 318,960 rials, or 2 baiza per share.

As of March 24, US$1 was equivalent to 39 Oman baiza.