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Oman Education & Training fiscal Q1 profit falls YOY

Oman Education & Training Investment Co. SAOG said its normalized net income for the fiscal first quarter ended Nov. 30 came to 255,050 rials, a fall of 16.7% from 306,300 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 7.1% from 9.3% in the year-earlier period.

Total revenue climbed 8.2% on an annual basis to 3.6 million rials from 3.3 million rials, and total operating expenses increased 11.8% from the prior-year period to 3.1 million rials from 2.8 million rials.

Reported net income fell 16.9% from the prior-year period to 346,600 rials, or 0 baiza per share, from 417,190 rials, or 1 baiza per share.

As of Dec. 23, US$1 was equivalent to 39 Oman baiza.