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Voltamp Energy Q4 profits grow 17.4%

Voltamp Energy Q4 profits grow 17.4%
Net earnings increased to OMR 1.12 million (Photo Credit: Arabianeye-Reuters)
Voltamp
VOES
-3.17% 0.19 -0.01

Mubasher: The unaudited financial statements of Voltamp Energy reported a rise of 17.4% in profits during the fourth quarter of 2016 as compared to the same period a year ago.

Net earnings increased to OMR 1.12 million ($3 million) in Q4-16 from OMR 954,000 ($2.47 million) in Q4-15, according to a bourse filing issued on Sunday.

During the fiscal year of 2016, profits rose by 9.86% to reach OMR 3.63 million from OMR 3.30 million in the previous fiscal year.

On the stock level, Voltamp ended Sunday’s trading session higher with 1.63% to OMR 0.5.