Qatar Fuel (Woqod) Net Profit Rose to QR825 Million in Q3 2018

October 28, 2018

Qatar Fuel (Woqod) net profit amounted to QR825 million, compared to QR643 million for the same period last year, while Woqod’s earnings per share amounted to QR8.30, versus QR6.47 for the corresponding period of 2017.

The Group’s Comments:

Woqod revenues rose by 35.2% to QR16.97 billion in the nine months period ended 30/09/2018, due to higher fuel prices, while the company’s costs increased by 37.5% to QR16.03 billion. As a result, the total profit rose by 5.9% to QR945.8 million, while expenses fell 5.6% to QR304.3 million. After adding other revenues of QR245.4 million, the net profit increased by 28.3% to QR825.5 million and the comprehensive income climbed to QR883.4 million.