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Majan College fiscal Q3 profit climbs YOY

Majan College (University College) SAOG said its normalized net income for the fiscal third quarter ended May 31 amounted to 295,200 rials, a gain from 289,710 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 dropped to 14.8% from 20.8% in the year-earlier period.

Total revenue rose 11.7% on an annual basis to 1.6 million rials from 1.4 million rials, and total operating expenses climbed 17.1% from the prior-year period to 1.1 million rials from 928,340 rials.

Reported net income increased 16.7% from the prior-year period to 471,190 rials, or 2 baiza per share, from 403,870 rials, or 1 baiza per share.

As of June 16, US$1 was equivalent to 39 Oman baiza.