Mubasher: Gulf International Services (GIS) posted a plunge of 80.9% in profits during the first quarter of 2017 when compared to the same period of 2016.

The earnings shrank to QAR 15.08 million ($4.14 million) in Q1-17 from QAR 78.93 million ($21.66 million) in Q1-16, according to a recent statement.

The earnings per share stood at QAR 0.08 in Q1-17, compared with QAR 0.42 in Q1-16.

At the stock level, GIS closed Wednesday’s session 0.55% lower at QAR 27.2.