Nakilat posts net profit of QR1003mn in Q3

Qatari shipping and maritime company - Nakilat announced its financial results for the third quarter ended September 30, 2021, reporting a net profit of QR 1,003.6 million. This is 11.5 percent year-on-year increase compared to the net profit of QR900 million reported during the same period in 2020.

The company reported revenue of QR3,071 million for the same period, which is an increase of 0.2 percent.

The company’s solid earnings results are primarily attributed to the implementation of the company’s strategic initiatives across all levels, driven by the company’s growth strategy and cost optimisation.

Nakilat has been diversifying its portfolio and expanding international outreach in response to the greater global demand for clean energy. The company is continuously expanding its shipping management capabilities with the latest addition of technologically advanced LNG carrier newbuilds, a key factor in its success and testament to an unwavering commitment to excellence.

In 2021, Nakilat’s fleet stands at 74 vessels, just under 12 percent of the current global LNG fleet, bearing testament to the company’s strong shipping management capabilities.