Abu Dhabi – Mubasher: Dana Gas on Wednesday reported an 84% year-on-year profit decrease in the third quarter of 2018, reaching AED 61 million ($16.61 million), compared to AED 375 million ($102.11 million).

The UAE-based energy producer’s profit plunged 67% to AED 149 million in the first nine months of this year, from AED 458 million in the year-ago period, according to a statement to the Abu Dhabi Securities Exchange (ADX).

Dana Gas’ other income fell 49% to AED 48 million in the nine-month period ended September, compared to AED 95 million in the prior-year period.

Year-on-year, investments and financing income retreated 50% to AED 40 million from January to September, against AED 80 million, whereas other expenses increased by 13%.