Mubasher: The unaudited initial financial results of Muscat Gases Company showed a decline in profits by 40.3% year-on-year in the first quarter of 2017, according to a bourse filing.

Profits totalled OMR 175,030 in Q1-17 compared to OMR 293,160 in the Q1-16, the company said in a statement to the Muscat Securities Market (MSM) on Sunday.