Mubasher: Gulf Stone Company’s quarterly financial statements showed a growth of 752.2% year-on-year in profits for the first quarter of fiscal 2016.
Net profit reached OMR 107,680 ($278,790) in Q1-16, versus OMR 12,640 ($32,710) in Q1-16, according to the company’s financial released on Wednesday.
Total sales came to OMR 1.28 million ($3.32) in the first three months this year, compared to OMR 1.08 million ($2.80 million) a year ago.
Cost of sales increased 8.8% to OMR 1.16 million ($3.01 million) in Q1-16 from OMR 1.07 million ($2.78 million) in Q1-15.
Gulf Stone earlier reported a net profit of OMR 33,350 ($86,612) in the fourth quarter of 2015, 62.77% down from OMR 89,580 ($232,645) in Q4-14.
