Mubasher: The unaudited financial statements of Sohar Power showed a rise in profits by 28.89% year-on-year for the third quarter of 2017, according to a bourse filing.

The company said in a statement to the Muscat Securities Market (MSM) that profits amounted to OMR 2.22 million in Q3-17, compared to OMR 1.72 million for the same period last year.

As for the first nine months of the year, profits declined by 76.29% to OMR 852,000, down from OMR 3.59 million in the corresponding period in 2016.

The decline in profits resulted from a decrease in revenues by 6%, to OMR 48 million down from OMR 51.07 million.