Doha – Mubasher: Dlala Brokerage and Investment Holding Company’s earnings declined in the first quarter of fiscal 2016 by 93.1% year-on-year.

Net profit reached QAR 445,000 ($122,090) in Q1-16, versus QAR 6.42 million ($1.76 million) in Q1-15, according to a bourse filing released on Tuesday.

Earnings per share reached QAR 0.02 ($0.01) by the end of March 2016, compared to QAR 0.23 ($0.06) in the same period of 2015.

The company’s Chairman, Nasser Al Sulaiti,  said that Dlala overcame losses it suffered in 2015, and achieved an operating profit of QAR 7 million ($1.92 million) in Q1-16.

Dlala earlier posted net losses of QAR 41.9 million ($11.51 million) in 2015, against a net profit of QAR 66.78 million ($18.34 million) in 2014.

The stock closed yesterday’s trading with a fall of 2.33% as 288,440 shares were traded at QAR 6.03 million ($1.66 million).