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Mon 13 Oct 2008 03:34 PM

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Qatar's largest company posts big Q3 profit rise

Industries Qatar records net income of 7.2bn riyals for year up to Sept 30.

Industries Qatar, the country's largest company by market value, almost doubled its third-quarter profit to 2.6 billion riyals ($714.7 million), compared to 1.35 billion in the year-earlier period.

Net income in the nine months to Sept 30 was 7.2 billion riyals compared to 3.4 billion in the same period of last year, the company said in a statement on the Doha bourse website.

Middle East Financial Brokerage had forecast Q3 net profit of 2.88 billion riyals. (Reuters)

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