Qatar Navigation (Milaha) has announced net profit of QR360m for the three months ended March 31, 2022, compared to QR297m for the same period in 2021, registering a rise of 21 percent.
It reported operating revenues of QR913m for the three months ended March 31, 2022, compared to QR675m for the same period in 2021. Operating profit increased to QR194m during the first quarter (Q1) compared to QR131m for the same period in 2021.
Earnings per share increased to QR0.32 for the three months ended March 31, 2022 compared to QR0.26 for the same period in 2021.
Milaha Maritime & Logistics’ net profit increased by QR46m on the back of continued strong container shipping rates and internal optimization measures. Milaha Gas & Petrochem’s net profit increased by QR21m, mainly a result of higher income from our associate companies.
Milaha Offshore’s net profit increased by QR6m, driven by strong revenue growth and increased performance of key assets. Milaha Capital’s net profit decreased by QR8m, with lower investment income partially offset by increased real estate profits. Milaha Trading’s bottom line decreased by QR1m due to margin compression in our marine & lubricant business.
