Doha – Mubasher: Qatar Navigation (Milaha) on Tuesday announced a slide in profits by 33% in the first quarter of 2017, compared to the corresponding period in 2016.

Profits reached QAR 236 million ($64.77 million) in Q1-17, compared to QAR 352 million ($96.6 million) in the year-ago period, according to Milaha’s statement to the Qatar Stock Exchange (QSE).

Earnings per share (EPS) amounted to QAR 2.08 in Q1-17, compared to QAR 3.10 in the same period a year earlier.

Milaha had previously reported a decrease of 35.3% in its profits reaching QAR 711.46 million in 2016, compared to QAR 1.095 billion in 2015.