Qatar Navigation (Milaha) Q.P.S.C. yesterday announced net profit of QR297m for the three months ended March 31, 2021, compared to QR283m for the same period in 2020. Company’s operating revenues amount QR675m for the three months ended March 31, 2021, compared to QR692m for the same period in 2020.
It reported operating profit of QR131m for the quarter ended March 31, 2021, compared to QR200m for the same period in 2020. Its earnings per share increased to QR0.26 for the three months ended March 31, 2021 compared to QR0.25 for the same period in 2020 Milaha Maritime & Logistics’ net profit increased by QR12m due to increased container shipping rates and operational optimization measures that improved operating margins.
Milaha Gas & Petrochem’s net profit decreased by QR7m, due to a drop in tanker market rates, which more than offset higher income from our joint ventures and associates. Milaha Offshore’s net profit increased by QR80m, mainly due to a reduction in vessel impairments compared to the same period last year.
Milaha Capital’s net profit decreased by QR72m, due to lower dividend income in our financial investment portfolio as well as one-off property sale gains recorded in 2020.
Milaha Trading’s bottom line increased by QR 1m driven by top line sales growth of QR16m.
The company will conduct an investor conference call on Monday, April 25 at 2:00pm Doha time, to further discuss its results.
