Mubasher: The United Power’s unaudited financial statements showed a decline of 34% year-on-year in the company’s net profit for the second quarter of fiscal 2016.

Net profit reached OMR 178,000 in Q2-16, versus OMR 269,000 in Q2-15, according to a bourse filing released on Sunday.

In the first half of fiscal 2016, net profit also shrank by 35% to OMR 352,000 from OMR 540,000 in H1-15.

The company earlier posted a net profit of OMR 174,000 in Q1-16, versus OMR 271,000 in Q1-15.