Doha – Mubasher: Islamic Holding Group’s profits shrank in the first quarter of the fiscal year 2016 by 93% to QAR 226.86 million ($1 million) from QAR 3.42 million ($1 billion) in Q1-15.

Earnings per share reached QAR 0.04 ($0.01) in Q1-15, versus QAR 0.86 ($0.24) in the same period of 2015, according to a bourse filing.

The Qatar-listed company earlier reported a net profit of QAR 6.11 million ($1.65 million) in 2015, falling 62.1% compared to QAR 16.1 million ($4.42 million) in 2014.