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.
|