Mubasher: Industries Qatar on Wednesday posted a 76.02% year-on-year profit hike for the third quarter of 2018.
Net profits amounted to QAR 1.3 billion in Q3-18, compared to QAR 747.8 million in Q3-17, according to the company’s statement to the Qatar Stock Exchange (QSE).
For the first nine months of 2018, the company’s profits surged 62.3% to QAR 3.8 billion, from QAR 2.3 billion for the same period of the prior year.
The company attributed the nine-month profit increase to a rise in revenues by 43.8% to QAR 4.6 billion.
By the end of September, the Qatar-based company’s assets grew 1.4% to QAR 35.97 billion, versus QAR 35.48 billion in the same period of the previous year.
By the end of Wednesday’s session, Industries Qatar’s stock plunged 2.11% at QAR 139.
