Mubasher: Oman Telecommunications Company’s (Omantel) profits rose in the first quarter of the fiscal year 2016 by 0.6% year-on-year.

Net profit amounted to OMR 34.8 million ($90.64 million) in Q1-16, versus OMR 34.6 million ($90.12 million) in Q1-15, according to the company’s financial statements announced on Thursday.

Omantel earlier announced a net profit of OMR 50.2 million ($130.37 million) last year, 59% down from OMR 122.4 million ($317.88 million) in 2014.

The Muscat-listed telecom provider’s stock rose in today’s trading by 0.32% to OMR 1.59 ($4.13).