Mubasher: Oman’s Phoenix Power Company reported a 154% year-on-year rise in profit of fiscal year 2015, reaching OMR 28.77 million, compared to OMR 11.31 million in 2014.

 Gross profit surged to OMR 36.76 million, versus only OMR 2,000 in 2014.

The Muscat-listed company earlier reported a net profit of OMR 13.91 million in the first nine months of 2015, compared to net losses of OMR 112,000 in the same period of 2014.