Mubasher: Oman Chromite posted on Wednesday a net profit of OMR 416,760 ($1.08 million) for the fourth quarter of the fiscal year 2016, against a net loss of OMR 126,380 ($326,090) for Q4-15.

Profits for the fiscal year 2016 rose 751.8% to OMR 489,010 from OMR 57,410 for fiscal 2015, according to a bourse filing.

Revenues for 2016 amounted to OMR 2.27 million, 29% up from OMR 1.76 million for 2015.