Milaha posts 21% jump in net profit for Q1 2022

Qatar Navigation (Milaha) has posted a net profit of QR360 million for the first three months of 2022, up 21 percent from QR297 million recorded in the same period last year.
Operating profit stood at QR194 million for the period ending March 31, 2022, as against QR131 million for the same period last year. This translates to earnings per share of QR0.32 against QR0.26 in the first quarter of 2021.
Nakilat’s operating revenues stood at QR913 million for the period ending March 31, 2022, as against QR675million for the same period in 2021.
Milaha Maritime & Logistics’ net profit increased by QR46 million on the back of continued strong container shipping rates and internal optimization measures.
Milaha Gas and Petrochem’s net profit increased by QR 21 million, mainly as a result of higher income from our associate companies. Milaha Offshore’s net profit increased by QR6 million, driven by strong revenue growth and increased performance of key assets.
Milaha Capital’s net profit decreased by QR8 million, with lower investment income partially offsetting increased real estate profits.
Milaha Trading’s bottom line decreased by QR1 million due to margin compression in our marine & lubricant business.