(MENAFN) Industries Qatar proclaimed that it has recorded a net profit of QR2.7bn and QR3.4bn revenue for the period ended Sep 30, 2016.
However, net profit was down by 29 percent compared to the same quarter of 2015, while revenue was down 16 percent from a year ago.
The drop in revenue was driven by a marginal decrease in the prices of the group's steel products with lower sales volumes.
Meanwhile, the decline in revenues was driven entirely by the lower profits due to a significant price deflation across all operating segments.
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