Mubasher: Oman Fiber Optic Company posted a 148.35% decrease in its quarterly profits, according to a bourse statement.

Profits reached OMR 601,000 ($1.56 million) in the first quarter of 2016, compared to OMR 242,000 ($626,590) in the same quarter of 2015.

Total revenues stood at OMR 6.94 million ($18.025 million) in Q1-16, a rise by 61.88% from OMR 4.29 million ($11.14 million) in Q1-15.

Total expenses grew 56.7% to OMR 6.34 ($16.47 million) during the period, compared to OMR 4.05 million ($10.52 million).