Mubasher: Shell Oman Marketing’s unaudited financial statements showed a rise of 55.2% year-on-year in the company’s net profit in the first quarter of fiscal 2016.
Net profit reached OMR 4.02 million ($10.41 million) in Q1-16, versus OMR 2.59 million ($8.57 million) in Q1-15, according to a bourse filing released on Thursday.
Total revenues also grew 4.3% to OMR 83.69 million ($217.38 million) in the three-month period, compared to OMR 80.21 million ($208.34 million) a year earlier.
Cost of sales and operating expenses increased 3.3% in the first three months of 2016 to OMR 81.27 million ($211.09 million) from OMR 78.7 million ($204.42 million) in the same period of 2015.
The Muscat-listed company earlier reported a net profit of OMR 10.6 million ($27.53 million) in 2015, compared to OMR 9.2 million ($23.90 million) in 2014.
