Mubasher: The unaudited financial results of Oman’s United Power showed a fall of 35.79% in the profit in the first quarter of fiscal 2016.
Net profit reached OMR 174,000 ($450,500) in Q1-16, versus OMR 271,000 ($701,640) in the same period of 2015.
Total revenues amounted to OMR 2.49 million ($6.47 million) in the first three months of 2016, falling 3% from OMR 2.56 million ($6.65 million) a year ago.
The Muscat-listed company earlier reported a net profit of OMR 1.07 million ($2.78 million) in 2015, 5% higher compared to OMR 1.02 million ($2.64 million) in 2014.
