(MENAFN- Muscat Daily) Muscat- Nama Group, a state-owned conglomerate engaged in production, procurement, distribution and transmission of electricity in Oman, reported a 14.8 per cent growth in total revenue to RO1.29bn for the year 2018.
The group said the increase in revenues is primarily driven by better realisation of electricity tariffs, supported by an increase in consumer base.
In 2018, Nama Group registered a 6.25 per cent increase in the total number of customers to 1.21mn from 1.14mn customers in the previous year.
'The growth in earnings was supported by a number of factors, including higher tariffs from the sale of electricity as the number of consumers and units of electricity sold increased. Higher operational efficiency also helped in raising the income,' Eng Omar bin Khalfan al Wahaibi, chief executive officer of Nama Group said while addressing a press conference on Monday.
Last year Nama Group sold 33,562GWH units of electricity, nearly 4 per cent higher compared with 32,277GWH units sold in the previous year.
Wahaibi said the group has invested heavily in capital expenditure to expand and develop its networks and systems to meet the requirements and the market demand.
According to Nama Group, residential customers account for a vast majority (around 74 per cent) of the total customers of the group, followed by commercial segment with 21.24 per cent shares.
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