Mubasher: Galfar Engineering and Contracting Company on Wednesday reported a 94.6% drop in its profits for the first quarter of 2017, compared to Q1-16.
Profits stood at OMR 66,000 ($170,840) in Q1-17, compared to OMR 1.22 million ($3.15 million) in Q1-16, according to a filing to the Muscat Securities Market (MSM).
Total revenues reached OMR 80.81 million in Q1-17, compared to OMR 84.1 million in the corresponding quarter in the year before, showing a decline of 3.92%.
The Omani engineering company’s losses decreased 79.98% to OMR 5.78 million in 2016, compared to OMR 28.86 million in 2015.
