Doha – Mubasher: Zad Holding Company’s profit fell in the first quarter of fiscal 2016 by 4.26% year-on-year.

Net profit reached QAR 51.6 million ($14.18 million) in Q1-16, versus QAR 53.9 million ($14.81 million) in Q1-15, according to a bourse statement on Thursday.

The Company earlier posted a net profit of QAR 160.32 million ($44.03 million) in 2015, 11.8% down from QAR 181.7 million ($49.90 million) in 2014.