Qatar Navigation (Milaha) Q.P.S.C. has 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.
