The financial statements of Industries Qatar showed a significant jump in the company's profits during the first nine months of this year, as profits rose by 399.1% on an annual basis.
According to the company's results for the Qatari Stock Exchange, the profits for the period amounted to about 5.56 billion riyals, compared to the profits of the same period last year, which amounted to 1.13 billion riyals.
The company said in a statement to the Stock Exchange that it maintained the stability of its operations, as production volumes at the end of the first nine months of this year amounted to about 11.7 million metric tons, down 3%. Compared to the same period in 2020.
The company attributed this decline mainly to the strategic decision taken by the group to stop operating part of its iron and steel production facilities since April 2020, as well as shutting down its facilities for the production of trimethyl Butyl ether during the first quarter of 2021 for commercial reasons.
