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Qatar General Insurance’s Q3 profits jump 472.3%

Qatar General Insurance’s Q3 profits jump 472.3%
Earnings amounted to QAR 104.18 million in Q3-16 (Photo Credit: Arabianeye-Reuters)
General Insurance
QGRI
-1.51% 1.30 -0.02

Doha – Mubasher: The unaudited financial statements of Qatar General Insurance and Reinsurance Co reported a leap of 472.3% in profits during the third quarter of 2016 as compare to the same period a year ago.

Earnings amounted to QAR 104.18 million ($28.58 million) in Q3-16 as compared to QAR 18.21 million ($5 million) in Q3-15, according to a bourse statement issued Thursday.

During the nine-month period, profits grew 34.8% to QAR 189.92 million this year from QAR 140.93 million in the corresponding period a year ago.

Earnings per share stood at QAR 1.19 in Q3-16, while in Q3-15 it reached QAR 0.21.