Doha – Mubasher: Mazaya Qatar Real Estate Development on Tuesday reported a 68.5% year-on-year drop in profits for the third quarter of 2017.
Net profit amounted to QAR 4.2 million ($1.14 million) in Q3-17, versus QAR 13.32 million ($3.6 million) in Q3-16, the company added in a filing to the Qatar Stock Exchange (QSE).
In the first nine months of 2017, net profit plunged 76.2% to QAR 17.65 million, versus QAR 74.01 million in the prior-year period.
Earnings per Share (EPS) amounted to QAR 0.152 in the nine-month period of 2017 from QAR 0.640 in the year-ago period.
Mazaya had previously posted a 77.8% decline in profits for the first half of 2017 to reach QAR 13.45 million, compared to QAR 60.69 million in H1-16.
