Mubasher: SMN Power Holding Company on Thursday reported turning to losses in the first quarter of 2017, against profits in the same period of 2016.
Losses reached OMR 1.1 million ($2.8 million) in Q1-17 against profits of OMR 1.99 million ($5.2 million) in the year-ago period, the company stated in a filling to the Muscat Securities Market (MSM).
Operating income amounted to OMR 17.2 million in Q1-17, compared to OMR 24.37 million in the same period the year before.
SMN Power had previously said its annual profits rose 30.3% to OMR 11.75 million in 2016, from OMR 9.02 million in the year earlier.
