SNG: Banking, realty, energy sectors drive Qatari-listed companies’ earnings in Q1

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First published: 09-Jun-2025 10:32:51Staff WriterDoha, Qatar: The total earnings for Qatari-listed companies witnessed a marginal gain of 0.9% during the first quarter (Q1) of this year to reach $3.62bn as compared to $3.59bn in Q1-2024.The surge in earnings was primarily driven by earnings growth in the Banking, Real Estate and Energy sectors.Qatar’s banking sector reported a profit growth of 1.1% in Q1-2025 that reached $2.09bn accounting for 57.7% of the overall exchange profits during the quarter, according to Kamco Invest GCC Corporate Earnings report.QNB’s net profit reached $1.2bn in Q1-2025, up 2.9% compared to $1.1bn in Q1-2024, driven by higher operating income which increased 5.3% to reach $3bn.The bank reported a 6% increase in customer deposits while loans and advances increased by 9% to reach $260.1bn. Meanwhile, QIB’s net profit surged 3.2% in Q1-2025 to reach $270.2m versus $261.9m in Q1-2024. The bank reported higher net interest income and non-interest income and a marginal decline in quarterly impairments during Q1-2025.The net profits for Qatar International Islamic Bank increased by 6.4% to $97.7m Q1-2025 from $91.9m in Q1-2024 mainly led by an increase in net interest income that more than offset a decline in non-interest income. A fall in impairments during Q1-2025 also supported bottom-line growth during Q1-2025.In the Telecom sector, Ooredoo reported net profits of $263.3m in Q1-2025 as compared to $250.3m in Q1-2024, up by 5.2% mainly led by lower forex impact during the quarter as well as a fall in interest expense. Meanwhile Vodafone Qatar reported a net profit of $44.5m for Q1-2025, representing an increase of 8.2% y-o-y compared to $41.2m in Q1-2024.The total revenue increased by 6.1% y-o-y to reach $234.8m due to sustained growth across all core business segments, including mobility, fixed broadband services, managed services, Internet of Things (IoT), handsets and others. Service revenue grew by 2.5% to $198m.EBITDA increased by 6.1% to reach $98.3m impacted by the higher service revenue. EBITDA margin remained stable at 41.9%.The net profits for the Energy sector improved by 7.5% y-o-y to reach $242.9m supported by profits reported by Gulf International Services Co. and Qatar Gas Transport Co. (Nakilat).Net profits for Gulf International Services Co. increased by 37.8% to reach $60.9m in Q1-2025 versus $44.2m for Q1-2024 d...

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