Mubasher: Al Madina Investment Company’s losses decreased in the first quarter of the fiscal year 2016 by 44.3% to OMR 400,910 ($1.04 million) from OMR 720,150 ($1.86 million) posted for Q1-15.

The company’s total assets amounted decreased in Q1-16 by 1.26% to OMR 47.1 million, versus OMR 47.7 million in the same period in the previous year.

Al Madina Investment earlier posted a net profit of OMR 1.3 million for the fiscal year 2015, ended on 312 March 2016.