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Satyendra Pathak
Doha
The combined net profit of firms listed on the Qatar Stock Exchange (QSE), with the exception of Qatar General Insurance & Reinsurance Company, stood at QR10.92 billion in the first quarter of 2021, the exchange said in a statement on its website on Sunday.
The overall net profitability was up 30.74 percent compared to QR8.36 billion in the first quarter of 2020 as the various economic sectors of the country showed early signs of recovery amid cautious global optimism arising from the vaccine rollout and ease of lockdown restrictions in major markets.
With a combined profit of QR6.3 billion, the banking and financial services sector alone contributed almost 60 percent to the overall profit, according to the bourse data.
The banks and financial services sector, which has 13 listed entities, reported 5.61 percent increase in cumulative net profit in the first quarter of 2021 against QR5.96 billion in the same quarter of 2020.
The industry sector was mainly responsible for the growth in the cumulative net profitability in the first quarter of this year as the oil and gas industry showed signs of recovery from the impact of the COVID-19 pandemic.
The industry sector, which has 10 listed entities, reported a whopping increase of 223.14 percent increase in cumulative net profit in the first quarter of 2021 to reach QR2.44 billion against QR789.6 million in the same quarter of 2020.
The sector contributed more than 20 percent to the overall net profit of the listed entities in the review period.
The cumulative net earnings of transport sector grew 9.61 percent to QR671.7 million in the first quarter of 2021 compared to QR612.8 million in the same quarter of the last year.
While there are three listed constituents in this sector, the profit was mainly driven by a rise of 14.65 percent in the net profit of Nakilat. Net profits of the other two constituents Milaha and Gulf Warehousing Company also increased 4.96 percent and 7.76 percent respectively.
The combined net profit of the consumer goods and services sector that has 10 listed entities went up 44.43 percent to QR458.1 million in the first quarter of 2021 from QR317.1 million in the first quarter of the previous year.
The insurance sector achieved the biggest gain among the seven sectors by rising 358.73 percent. The five listed companies in this sector reported a cumulative net profit of QR295.12 million in the first quarter of 2021 compared with net loss of QR114 million in the corresponding period last year.
The realty segment, which has four listed entities, saw the combined net profit rise by 11.1 percent to QR390.2 million in the first three months of this year against a net profit of QR351.2 million in the same period last year. The sector constituted more than 3 percent of the overall net profitability in the review period.
During the first three months of this year, telecom was the lone sector out of the seven sectors that witnessed a decline in the net
profitability.
The telecom sector saw its net profit decline by 40.36 percent to QR259.2 million in the first quarter of 2020 compared to an overall net profit of QR434.6 million in the same period last year.
“All the financial statements of listed companies are available on the QSE website. The QSE management wishes to thank all the departments of listed companies for their cooperation in promoting the principle of disclosure and transparency,” the QSE said in a statement on its website.
Doha
The combined net profit of firms listed on the Qatar Stock Exchange (QSE), with the exception of Qatar General Insurance & Reinsurance Company, stood at QR10.92 billion in the first quarter of 2021, the exchange said in a statement on its website on Sunday.
The overall net profitability was up 30.74 percent compared to QR8.36 billion in the first quarter of 2020 as the various economic sectors of the country showed early signs of recovery amid cautious global optimism arising from the vaccine rollout and ease of lockdown restrictions in major markets.
With a combined profit of QR6.3 billion, the banking and financial services sector alone contributed almost 60 percent to the overall profit, according to the bourse data.
The banks and financial services sector, which has 13 listed entities, reported 5.61 percent increase in cumulative net profit in the first quarter of 2021 against QR5.96 billion in the same quarter of 2020.
The industry sector was mainly responsible for the growth in the cumulative net profitability in the first quarter of this year as the oil and gas industry showed signs of recovery from the impact of the COVID-19 pandemic.
The industry sector, which has 10 listed entities, reported a whopping increase of 223.14 percent increase in cumulative net profit in the first quarter of 2021 to reach QR2.44 billion against QR789.6 million in the same quarter of 2020.
The sector contributed more than 20 percent to the overall net profit of the listed entities in the review period.
The cumulative net earnings of transport sector grew 9.61 percent to QR671.7 million in the first quarter of 2021 compared to QR612.8 million in the same quarter of the last year.
While there are three listed constituents in this sector, the profit was mainly driven by a rise of 14.65 percent in the net profit of Nakilat. Net profits of the other two constituents Milaha and Gulf Warehousing Company also increased 4.96 percent and 7.76 percent respectively.
The combined net profit of the consumer goods and services sector that has 10 listed entities went up 44.43 percent to QR458.1 million in the first quarter of 2021 from QR317.1 million in the first quarter of the previous year.
The insurance sector achieved the biggest gain among the seven sectors by rising 358.73 percent. The five listed companies in this sector reported a cumulative net profit of QR295.12 million in the first quarter of 2021 compared with net loss of QR114 million in the corresponding period last year.
The realty segment, which has four listed entities, saw the combined net profit rise by 11.1 percent to QR390.2 million in the first three months of this year against a net profit of QR351.2 million in the same period last year. The sector constituted more than 3 percent of the overall net profitability in the review period.
During the first three months of this year, telecom was the lone sector out of the seven sectors that witnessed a decline in the net
profitability.
The telecom sector saw its net profit decline by 40.36 percent to QR259.2 million in the first quarter of 2020 compared to an overall net profit of QR434.6 million in the same period last year.
“All the financial statements of listed companies are available on the QSE website. The QSE management wishes to thank all the departments of listed companies for their cooperation in promoting the principle of disclosure and transparency,” the QSE said in a statement on its website.
