Oman: 26% growth in profits of listed companies at the Muscat Stock Exchange in the first half

Muscat, August 29 (KUNA) -- The results of joint-stock companies listed on the Muscat Stock Exchange (MSX) showed a 26 percent growth in net profits during the first half of this year, reaching 1.2 billion Omani rials ($3.13 billion), compared to the same period last year. According to exchange data, Omantel Group topped the list of most profitable companies with total profits of 292.7 million rials (approximately $765 million), representing a 73.5 percent increase compared to the first half of last year. OQ, the energy exploration and production company, ranked second with net profits of 199 million rials (approximately $520.3 million), recording a 19.4 percent growth. Bank Muscat came in third with profits of approximately 137.5 million rials ($360 million). In fourth place was Oman India Fertilizer Company (Omanefco), which was listed on the MSX last July, with net profits of 80.2 million rials (approximately $210 million). Bank Dhofar International ranked fifth after its profits rose to 53 million rials (approximately $139 million). According to the data, the number of companies that recorded profits in the first half of this year increased to 82, compared to 80 last year, while the number of companies reporting losses declined from 14 to 12. Eight companies managed to shift from losses to profits, while six companies moved from profits to losses, and six other companies recorded losses in both periods. Regarding trading volumes and values on the MSX during the first half of the year, exchange data showed trading worth 6.9 billion rials (approximately $18 billion), compared to 917.2 million rials ($2.4 billion) in the same period last year. The data also showed a rise in many stocks, which was reflected in the main MSX index, sector indices, and market capitalization, which rose to 36.7 billion rials (approximately $96 billion), recording growth of about 30 percent compared to the first half of 2025. It is worth noting that the Muscat Securities Market completed the steps to convert into a closed Omani joint-stock company named the Muscat Stock Exchange in 2021, under the supervision of the Public Authority for Investment. (End) M.J.B. / N.S.A.