Doha – Mubasher: Barwa Real Estate Company posted on Wednesday a net profit of QAR 651 million ($178.78 million) in the first quarter of fiscal 2016, falling 80% from QAR 3.25 billion ($892.514 million) in Q1-15.
Earnings per share reached QAR 1.67 ($0.46) in the three-month period, compared to QAR 8.36 ($2.30) in the same period of 2015, according to a bourse filing.
Barwa, listed on the Qatar Stock Exchange (QSE), said that Q1 earnings could have risen 18% by excluding the exceptional profit reached in the comparative period through selling a QAR 2.7 billion ($741.5 million) land parcel.
