Mubasher: Acwa Power Barka on Thursday announced turning to losses in the first quarter of 2017, compared to the same quarter of 2016.
The company logged OMR 977,000 ($1.37 million) in losses in Q1-17, against profits of OMR 2.47 million ($3.47 million) in the year-ago period, according to a filing to the Muscat Securities Market (MSM).
Revenues grew 8% to OMR 15.47 million in Q1-17, from OMR 14.33 million in the same period last year.
The Omani power company had previously reported an increase of 12.05% in its profits reaching OMR 11.78 million in 2016, compared to OMR 10.51 million in 2015.
