Muscat Finance reports 10% growth in Q1 net profit
Omani investment firm, Muscat Finance Co has posted a 10% increase in its net profit for the first quarter ended March 31, 2014, to OR1.09m from OR997,000 for the same period of the previous year, Muscat Daily has reported. The company’s gross income grew by 15% to OR3.05m in the first quarter of 2014, from OR2.65m in the first quarter of 2013. Total expenses rose 18% to OR1.96m, compared with OR1.66m in the same period a year ago. Total assets of the company jumped 19% to OR131.7m as of end-March 2014, against OR110.6m as of end-March 2013.