Qatar-Oman Net Profit Drops to QR5.4 Million in First Quarter of 2018

April 30, 2018

The net profit of Qatar-Oman Investment Company (QOIC) amounted to QR5.40 million in the first quarter of 2018, compared to QR9.57 million for the same period of the previous year. QOIC’s earnings per share recorded QR17.2 in this first quarter, versus QR30.4 for the corresponding period of 2017.

The Group’s Comments:

The company’s net investment and interest income decreased in the first quarter by 42.4% to QR7 million, while the total expenses rose by 18% to QR1.65 million. As a result, the net profit decreased by 43.5% to QR5.40 million. It should be noted that there was a fair value loss of QR3.2 million, which resulted in the fall of the comprehensive income to QR2.22 million, compared to a comprehensive loss of QR401 thousand in the corresponding period of 2017.