Mubasher: Oman Investment and Finance Company (OIFC) on Sunday posted a 14.9% decline in net profits in the first quarter of 2017, compared to the same quarter in 2016.
OIFC achieved a net profit of OMR 1.31 million ($3.4 million) in Q1-17, compared to OMR 1.54 million ($3.99 million) in Q1-16, according to a filing to the Muscat Securities Market (MSM).
Total revenues dropped 2.52% to reach OMR 4.37 million in the first three months of 2017, compared to OMR 4.49 million in the same period in 2016.
The company had previously stated that it turned to profits in 2016, posting OMR 2.73 million in net profits against OMR 3.57 million in losses in 2015.
