Doha - Mubasher: The financial statements of Qatar Gas Transport Company (Nakilat) showed a decline in profits in the first quarter this year by 20.4% year-on-year.

According to the company’s statement to the Qatar Stock Exchange (QSE), profits reached QAR 191.06 million ($52.42 million) in Q1-17 up from QAR 239.97 million ($65.84 million) in the same quarter in 2016.

Return on Equity (ROE) reached QAR 0.34 per share in Q1-17 compared to QAR 0.43 per share in Q1-16.

As per the company’s financial statements, revenues declined by 3.1% to QAR 877.54 million in the three-month period that ended on 31 March 2017 compared down from QAR 905.53 million in the same quarter last year.