Mubasher: Oman Investment and Finance Company’s (OIFC) profits for the third quarter of the fiscal year 2016 declined by 54.9% to OMR 930,000 ($2.4 million), versus OMR 2.06 million ($5.33 million) for Q3-15.

Net profit for the first nine months of the year also fell by 30% to OMR 3.79 million from OMR 5.41 million for the same period of 2015, according to a bourse filing released on Sunday.

Total revenues, however, rose in the nine-month period of 2016 to OMR 16.58 million from OMR 11.29 million for the same period last year.

OIFC earlier posted a net profit of OMR 2.86 million for the first half of 2016, 14.6% down from OMR 3.35 million for H1-15.