Mubasher: The unaudited financial results of SMN Power Holding showed a rise of 21.88% year-on-year in the company’s net profit in the first quarter of fiscal 2016.

Net profit reached OMR 1.99 million ($5.16 million) in Q1-16, compard to OMR 1.64 million ($4.24 million) in Q1-15.

Total revenues came to OMR 24.38 million ($63.32 million) in the first three months of 2016, 2.38% down from  OMR 24.97 million ($64.85 million) in the same period of 2015.

Operating costs declined to OMR 19.59 million ($51.81 million) in the period. Versus OMR 20.26 million ($52.62 million) in Q1-15.

SMN Power’s profits rose 4.6% in 2015 to OMR 9.02 million ($23.43 million) from OMR 8.62 million ($22.39 million) in 2014.