Doha – Mubasher: Medicare Group’s profits dropped in the first quarter of fiscal 2016 by 71.4% to QAR 14.13 million ($3.88 million) from QAR 49.38 million ($13.55 million) in Q1-15.

Earnings per share reached QAR 0.50 ($0.14) by the end of March 2016, compared to QAR 1.75 ($0.48) in the same period of 2015, according to the company’s financial statements released on Thursday.

During 2015, Medicare’s profits declined by 0.63% to QAR 180.38 million ($49.6 million) from QAR 181.52 million ($49.9 million) in 2014.

The Qatar-listed company’s stock shrank 10% to QAR 110.54 ($30.36) in today’s mid trading.