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Voltamp Energy says 9-month profits doubled, CEO to step down

Oman-headquartered manufacturer of power transformers, Voltamp Energy has posted a 100% surge in net profit for the nine-month period ended September 30, 2013 on improved sales across all its business units, Muscat Daily has reported. Net income soared to OR1.52m from OR761,594 in the corresponding period last year. Third-quarter profits stood at OR513,000, compared with OR509,000 recorded for the same quarter of last year. Meanwhile, Voltamp’s board of directors announced the firm’s chief executive, Alok Bhargava, has resigned citing personal reasons. The board has accepted his resignation, effective March 31, 2014.