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Dhofar University fiscal Q3 profit falls YOY

Dhofar University SAOG said its normalized net income for the fiscal third quarter ended May 31 was 5 Oman baiza per share, a decline of 21.9% from 7 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 733,580 rials, a decline of 21.9% from 939,520 rials in the year-earlier period.

The normalized profit margin fell to 17.9% from 24.8% in the year-earlier period.

Total revenue grew 8.0% year over year to 4.1 million rials from 3.8 million rials, and total operating expenses increased 25.6% from the prior-year period to 2.9 million rials from 2.3 million rials.

Reported net income decreased 23.5% year over year to 1.1 million rials, or 8 baiza per share, from 1.4 million rials, or 10 baiza per share.

As of June 29, US$1 was equivalent to 39 Oman baiza.