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Industries Qatar reports financial results for Q3

by ChemOrbis Editorial Team - content@chemorbis.com
  • 24/10/2017 (14:19)
According to a statement released by the company, Industries Qatar (IQ) posted a net profit of 2.4 billion riyals ($638 million) in Q3, down 1.6% from the same period of last year. This decrease was attributed to reduced sales volumes, weak fertilizer prices and tightened operating margins. The company announced a net profit of 2.7 million riyals ($716 million) in the same period of last year.

The company’s net revenue also decreased by nearly 8% to 3.2 billion riyals ($849 million) when compared to 3.4 billion riyals ($902 million) from a year earlier.
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