Qatar Navigation (Milaha) Q.P.S.C. today announced its financial results for the three months ended March 31, 2022.
Key financial highlights:
Operating revenues of QAR 913 million for the three months ended March 31, 2022, compared to QR 675 million for the same period in 2021
Operating profit of QAR 194 million for the three months ended March 31, 2022, compared to QAR 131 million for the same period in 2021
Net profit of QAR 360 million for the three months ended March 31, 2022, compared to QAR 297 million for the same period in 2021
Earnings per share increased to QAR 0.32 for the three months ended March 31, 2022 compared to QAR 0.26 for the same period in 2021
Milaha Maritime & Logistics’ net profit increased by QAR 46 million on the back of continued strong container shipping rates and internal optimization measures.
Milaha Gas & Petrochem’s net profit increased by QAR 21 million, mainly a result of higher income from our associate companies.
Milaha Offshore’s net profit increased by QAR 6 million, driven by strong revenue growth and increased performance of key assets.
Milaha Capital’s net profit decreased by QAR 8 million, with lower investment income partially offset by increased real estate profits.
Milaha Trading’s bottom line decreased by QAR 1 million due to margin compression in our marine & lubricant business.