Industries Qatar reported a net profit of QR 1.5 billion for the three-month period ended 31 March 2021. During Q1-21, macroeconomic environment continued the upward trajectory at a global scale that was manifested first during Q4-20. The GDP driven renewed consumer optimism following the vaccine rollout, easing of lockdowns in major markets, together with continued fiscal support to boost economies by many sovereigns, were some of the primary catalysts in the economic recovery leading to a renewed demand for commodities. Also, the supply shortages remained evident throughout the period across all the industrial sectors, especially the petrochemicals.

The Group’s operations continue to remain efficient with total Group production for the three month ended period ended 31 March 2021 reaching 3.8 million MTs, down by 20% versus Q1-20.

For the three-month period ended 31 March 2021, the Group recorded a net profit of QR 1.5 billion as compared to QR 0.3 billion for Q1-20, up by 478%. The Group revenue also inclined by 28% to reach QR 4.2 billion as compared to QR 3.3 billion for Q1-20 (assuming proportionate consolidation). Earnings per share (EPS) amounted to QR 0.24 for Q1-21 versus QR 0.04 for Q1-20. EBITDA increased by 173% and reached QR 1.9 billion for Q1-21 in comparison to QR 0.7 billion for Q1-20.