Mubasher: Al Hassan Engineering Company reported on Sunday a net loss of OMR 6.88 million ($17.8 million) for the third quarter of fiscal 2016, against a net profit of OMR 155,000 ($401,130) for Q3-15.

Net losses deepened in the first nine months of 2016 by 465% to OMR 6.78 million, compared to OMR 1.2 million for the same period of 2015, according to a bourse filing.

Total revenues fell 12.1% to OMR 69.71 million in the nine-month period, versus OMR 79.33 million for the same period last year.

The company earlier posted a net profit of OMR 99,000 for the first half of 2016, compared to a net loss of OMR 1.35 million for H1-15.