Mubasher: Oman’s Dhofar University announced on Wednesday that its board of directors adopted the financial results for the first quarter ended on 30 November 2015, with a decline of 41% year-on-year in net profit.

Net profit after tax reached OMR 436,000 in Q1-15/16, versus OMR 742,000 in the same period last year.

The Muscat listed company’s assets came to about OMR 53.8 million in the fiscal year ended on 31 October 2015, versus OMR 51.8 million in the previous year.

Dhofar earlier reported a net profit of OMR 2.02 million in FY-15, compared to OMR about 2.86 million in the same period year ago.