Mazaya Qatar Real Estate Development Co. Net Profit Rose to QR22.14 Million in Q3 2018

October 25, 2018

Mazaya Qatar Real Estate Development Company net profit amounted to QR22.14 million, compared to QR17.64 million for the same period last year, while its earnings per share recorded QR0.191, versus QR0.152 for the corresponding period of 2017.

The Group’s Comments:

Mazaya’s revenues from operations decreased by half to QR29.1 million and has received QR40 million in compensation. Expenses of all types climbed by 29.1% to QR52.3 million, of which QR16.7 million went to general expenditures, while QR35.4 million were spent on finance costs. As a result, the profit increased to QR22.1 million, although QR5.4 million of which was a profit generated from a change in the fair value, which means the real net profit is QR16.7 million and the comprehensive income is QR22.1 million.