Mubasher: Doha Insurance Group has signed an agreement to sell its property in Doha for QAR 38 million ($10.49 million).
The property’s book value stands at QAR 4.12 million ($1.13 million) and the profit from the sale amounts to QAR 33.88 million ($9.30 million), according to the company’s statement to the Qatar Stock Exchange (QSE) on Wednesday.
Net profits of Doha Insurance retreated 37.8% to QAR 460,000 ($126,339) in the third quarter of 2018, compared to QAR 740,000 ($203,241) in the previous-year period.
For the first nine months of 2018, the Qatari insurance company’s profits fell 67.1% to QAR 35.39 million ($9.72 million), from QAR 34.7 million ($9.53 million) in the same period of the prior year.
By 11:12 am Qatari time, Doha Insurance Group’s stock fell 3.21% to QAR 12.72.
