Mubasher: Doha Insurance Company on Tuesday announced a drop of 82.3% in its profits for the fourth quarter of 2017.

The company’s profits reached QAR 7.46 million ($2.07 million) in Q4-17, compared to QAR 42.18 million ($11.7 million) in the same period a year earlier, according to a statement to the Qatar Stock Exchange (QSE).

Earnings per share amounted to QAR 0.84 for the year ended 31 December 2017 compared to QAR 1.44 for the same period the previous year.

In 2017, the company’s profits dropped 41.7% to QAR 42.16 million from QAR 72.25 million the year before.

The board proposed cash dividends equal to 7.5% of the share par value or QAR 0.75 per share.