MSX companies post 12% profit growth

MUSCAT: Companies listed on the Muscat Stock Exchange (MSX) posted combined net profits of RO 866.98 million in the second quarter of 2026, up 12 per cent from a year earlier, driven by strong earnings growth in the industrial and financial sectors.
Financial statements released by listed companies showed that 87 per cent of firms reporting results remained profitable during the quarter, underlining the resilience of corporate earnings despite mixed performances across sectors.
The industrial sector recorded the strongest growth, with net profits jumping 51 per cent year-on-year to RO 172.00 million from RO 114.00 million. The financial sector followed with a 13 per cent increase in profits to RO 392.00 million, compared with RO 346.00 million in the same quarter of 2025.
Investment and real estate funds reported profits of about RO 6.00 million, up from RO 5.00 million a year earlier, while the services sector was the only segment to post weaker earnings. Profits in the sector fell 4 per cent to RO 297.00 million from RO 309.00 million.
Despite the slower performance in services, the financial sector remained the largest contributor to overall corporate earnings, accounting for more than RO 392.00 million of total profits during the quarter.
At the company level, OQ Exploration and Production remained the most profitable listed company, reporting net earnings of RO 196.87 million.
Bank Muscat ranked second with net profits of RO 137.49 million, followed by Oman India Fertiliser Company (OMIFCO), which earned RO 80.22 million.
Sohar International reported net profits of RO 53.00 million, while OQ Base Industries completed the top five with earnings of RO 43.30 million.
The results highlighted a broader distribution of corporate earnings across different sectors of the economy, with industrial companies delivering the fastest growth while financial institutions continued to generate the largest share of profits.
The high proportion of profitable companies, at 87 per cent of those disclosing results, represents one of the strongest earnings performances by listed firms in recent reporting periods. — ONA