Doha – Mubasher: Qatar Navigation said its Q3 net profit declined 33.1% year-on-year to QAR 206 million ($56.52 million) from QAR 308 million ($84.51 million), a bourse statement revealed on Thursday.

Over the first nine months, the company earned QAR 759 million, down 20.9% from QAR 959 million for the year-ago period.

Return on equity declined to QAR 6.68 during the first nine months of 2016, compared with QAR 8.44 for the year-ago period.

H1-16 net profits stood at QAR 553 million, compared with QAR 651 million for the first half of 2015.