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National Gas Q1 profits decline 36%

National Gas Q1 profits decline 36%
(Photo Credit: Company website)
National Gas
NGCI
5.95% 0.09 0.01

Mubasher: National Gas Company reported a drop of 36% in its profits for the first quarter of 2017, compared to the same period in 2016, according to the company’s consolidated financial statements.

Profits stood at OMR 804,440 ($2.08 million) in Q1-17, compared to OMR 1.32 million ($3.41 million) in Q1-16.

Total income increased 24.7% to OMR 19.76 million in Q1-17, compared to OMR 15.84 million in the same period in the year before.

The Omani company had previously posted an increase of 120% in its profits to OMR 4.05 million in 2016, compared to OMR 1.84 million in 2015.