Qatar Navigation (Milaha) has announced a net profit of QR297mn for the first three months of 2026.
In the same period last year, Milaha’s net profit stood at QR374mn. The company also reported earnings per share of QR0.26 in Q1 2026, compared to QR0.33 for the same period in 2025.
Operating revenues for the first three months of 2026 stood at QR874mn, compared to QR759mn in Q1 2025, while operating profit reached QR150mn, compared to QR212mn for the same period last year.
Milaha Maritime & Logistics’ bottom line decreased by QR15mn compared to the same period in 2025, primarily due to lower volumes across its container shipping unit and port operations joint arrangement because of operational disruptions linked to the regional conflict.
Milaha Gas & Petrochem reported a QR5mn decline in net profit compared to the same period in 2025, mainly due to the divestment of two very large gas carriers (VLGCs) in 2025.
Milaha Offshore’s net profit decreased by QR36mn compared to the same period in 2025, driven by lower EPCIC income and the effects of the regional conflict, which negatively impacted vessel utilisation and resulted in higher operating costs.
Milaha Capital recorded a QR13mn decline in net profit compared to the same period in 2025, primarily due to the non‑recurrence of a favourable bad debt adjustment recognised last year, as well as reduced dividend income.
Milaha Marine & Technical Services reported a QR9mn decline in net profit in Q1 2025, mainly due to higher bad debt provisions and lower income arising from operational disruptions linked to the regional conflict.