Doha – Mubasher: Mannai Corporation reported a decrease of 28% in its profits for the first quarter of 2017, compared to the same quarter in 2016.

The company’s profits stood at QAR 90.1 million ($24.72 million) in Q1-17, compared to QAR 125.1 million ($34.32 million) in Q1-16, according to a filing to the Qatar Stock Exchange (QSE).

Earnings per share (EPS) reached QAR 1.97 in Q1-17, compared to QAR 2.74 in the corresponding period in the year before.

Mannai had previously reported a slight growth of 0.43% in its profits reaching QAR 535.1 million in 2016, compared to QAR 532.8 million in 2015.