Independent Petroleum Group (IPG) registered a plunge of 54.1% in its earnings of the first quarter ended 31 March, 2015.

The firm posted a net profit of about KWD 725,000 in Q1-2015, compared to KWD 1.58 million in Q1-2014.

The earning per share totaled 5.01 fils in Q1-2015, compared to 10.92 fils in the first quarter of 2014.

IPG’s capital stands at KWD 15.22 million, distributed on 152.25 million shares with a par value of 100 fils per share.