Mubasher: Al Batinah Power Company reported an increase of 127% in its losses during the first quarter of 2017, when compared to the same period of the prior year.

The losses of Al Batinah stood at OMR 6.22 million ($16.12 million) in Q1-17, compared to OMR 2.74 million ($7.1 million) in Q1-16, according to Muscat Securities Market’s (MSM) filing.

The direct costs on the company rose 35.5%, reaching OMR 12.64 million in Q1-17 from OMR 9.33 million in the same period of the year before.

The Omani Company previously reported a growth of 17.1% in its annual profits which reached OMR 8.29 million in 2016, compared to OMR 7.08 million in the year earlier.