Mubasher: The unaudited financial statements of Voltamp Energy showed a rise of 30.8% year-on-year in the company’s profits for the first quarter of fiscal 2016.

Net profit reached OMR 670,000 ($1.74 million) in Q1-16, versus OMR 512,300 ($1.33 million) in the same period of 2015, according to financials released on Monday.

Total revenues reached OMR 8.7 million ($22.59 million) in the above mentioned period, a rise 11.5% from OMR 7.8 million ($20.26 million) a year earlier.

Total expenses rose 10.8% in the first three months of 2016 to OMR 7.93 million ($20.59 million) from OMR 7.16 million ($18.59 million) in the same period of 2015.

Voltamp earlier posted a net profit of OMR 3.25 million ($8.44 million) in 2015, compared to OMR 2 million ($5.19 million) in 2014.