The Qatar Stock Exchange saw the telecom and transport sectors exhibit strong earnings as the listed companies cumulatively reported net profit of QR23.8bn in the first nine months of this year.
Overall, the net profitability had taken a hit owing to the fast depletion in earnings, especially in the consumer goods and services, insurance and industrials sectors, amidst the challenges posed by the pandemic Covid-19.
Amidst an overall 17.91% year-on-year decline in the cumulative net profitability of the listed companies; the telecom sector, which has two listed constituents, saw its profitability soar 16.11% to QR1.59bn at the end of September 30, 2020.
Similarly, the transport sector, which has three listed constituents, saw its cumulative net profits expand 9.51% to QR1.45bn in the first nine months of this year.
The banking and financial services contributed the maximum of 71% to the overall net profits of the listed companies. The cumulative net profits of the banking and financial services sector, which has 13 listed constituents, amounted to QR16.92bn in January-September 2020. However, the sector’s net profit shrank 10.53% year-on-year in the review period.
The industrials were the second biggest contributor of 11% to the overall net profitability of the listed companies. The sector, which has 10 listed entities, witnessed net profit of QR2.68bn, which showed 36.32% decline year-on-year in January-September 2020.
The real estate sector, which has four listed companies, registered net profit of QR1.04bn at the end of September 30, 2020. The overall net profitability saw 36.77% plunge year-on-year in the review period.
The consumer goods and services sector, which has 10 listed constituents, saw the cumulative net profit plummet 94.19% to QR52.53mn at the end of nine-month ended September 2020.
The insurance sector, which has five listed entities, saw its cumulative net profit plunge 90.52% year-on-year to QR58.8mn in January-September this year.