Industries Qatar Net Profit Rises to QR1.26 Billion in First Quarter of 2018

April 29, 2018

Industries Qatar’s net profit amounted to QR1.2 billion in the first quarter of 2018, compared to QR928 million for the same period last year. The company’s earnings per share recorded QR2.1, versus QR1.53 for the corresponding period of 2017.

The Group’s Comments:

IQ’s first quarter of 2018 gross profit increased by 29.2% to QR329.2 million, while general and administrative expenses decreased by 55% to QR38.8 million. On another hand, selling expenses rose to QR14.4 million. The company's share of the results of joint ventures and associates achieved a 33.6% hike to QR879.7 million. As a result, the net profit increased by 36.6% to QR1267 million.