Mubasher: Gulf International Services (GIS) on Tuesday posted a 37.3% year-on-year drop in its profits for the first quarter of 2018.

The Qatar-based firm's profits amounted to QAR 9.46 million in Q1-18, compared to QAR 15.08 million in Q1-17, according to the company’s filing to the Qatar Stock Exchange (QSE).

Earnings per share (EPS) remained unchanged at QAR 0.08 during the three-month period ended 31 March 2018, the QSE-listed company noted. 

GIS’s revenues rose 3.3% to QAR 627.8 million in the first three months of 2018, from QAR 607.8 million for the same quarter in the prior year.

By the end of Tuesday’s session, GIS’s stock went down 5.88% at QAR 20.