(MENAFN) Nakilat, Qatar's leading LNG shipping company, has released its financial results for the first quarter ending March 31, 2024, showcasing robust performance amidst challenging economic conditions.
The company reported a net profit of QR420 million for the first quarter of 2024, which marks a 6.1 percent increase compared to the same period in 2023, where it recorded QR396 million in net profit.
Key financial highlights for the first quarter of 2024 include total revenues of QR1,133 million, reflecting a 1.2 percent increase, and total operating expenses of QR192 million, indicating a 1.4 percent decrease.
This positive outcome is attributed to Nakilat's unwavering focus on operational efficiency, prudent cost management practices, and buoyant market demand for its LNG shipping services.
Eng. Abdullah Al-Sulaiti, CEO of Nakilat, highlighted the company's strategic approach to navigating these factors: “Despite uncertain economic outlook and high interest environment, we have remained committed to reliable and safe global operations, continuing to deliver clean energy to +40 countries and about 100 terminals across continents.
“Throughout two decades of operations, we have been meeting the world’s demand for LNG, as a dependable partner. Our latest financial results, reflected by an increase in net profit by 6.1 percent, is testament to the resilience of the company, its innovative solutions, and its operational efficiency,” he added.
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