Abu Dhabi-Mubasher: Dana Gas said its profits decreased 50% year-on-year in the first quarter, according to a bourse statement.
Net profits stood at AED 22 million ($6 million) in Q1-16, compared to AED 44 million ($12 million) in Q1-15.
Meanwhile, revenues fell 28.7% to AED 301 million ($81.95 million) from AED 422 million ($114.89 million).
Operating profits increased to AED 48 million ($13.07 million) in Q1-16, compared to AED 44 million ($11.98 million) in Q1-15.
The company’s stock stabilised at AED 0.53 after 10.37 million shares changed hands, with a turnover of AED 5.53 million.
