The telecom operator reported a net profit of 10 million rials ($26 million) compared with a profit of 11.5 million rials in the second quarter of 2010, it said in a statement.Two analysts forecast profit of 12.37 million rials and 12.5 million rials respectively, in a Reuters survey.Nawras, which ended Omantel's local monopoly in 2005 when it became the country's second mobile operator, said revenues grew by 6 percent to 48.8 million rials.Earnings for the first half of the year were 22.1 million rials compared with 25.5 million rials in the same period in 2010, a drop of 13.3 percent.Nawras said that administrative expenses also increased after it hired about 150 additional staff as part of a government employment initiative.The company said earlier that it is targeting fixed and mobile broadband to drive earnings growth and would spend 140 million rials on capital expenditure in 2010 and 2011.Nawras raised 182 million rials from an initial public offering last year that was priced at the bottom of its range at 0.702 rials per share.Shares of Nawras ended down 0.4 percent on the Oman bourse. The results were announced after markets closed.