Mubasher: Port Services Corporation posted on Thursday a net profit of OMR 811,650 ($2.1 million) in the first quarter of fiscal 2016, against net losses of OMR 468,750 ($1.21 million) in Q1-15, according to the company’s financial statements.

The Muscat-listed company earlier reported net losses of OMR 2.13 million ($5.53 million) in 2015, versus a net profit of OMR 3.03 million ($7.87 million) in 2014.

Port Services’ shareholders approved cash dividends at 20 Baisas per share for the fiscal year 2015.

The stock rose 6.33% in today’s mid trading to OMR 0.23 ($0.60).