{"id":70253,"date":"2023-04-18T00:00:00","date_gmt":"2023-04-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/04\/18\/qatars-nakilat-sees-marginal-net-income-revenue-growth-in-1q2023\/"},"modified":"2023-04-18T00:00:00","modified_gmt":"2023-04-18T00:00:00","slug":"qatars-nakilat-sees-marginal-net-income-revenue-growth-in-1q2023","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/04\/18\/qatars-nakilat-sees-marginal-net-income-revenue-growth-in-1q2023\/","title":{"rendered":"Qatar\u2019s Nakilat sees marginal net income + revenue growth in 1Q2023"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Qatar\u2019s <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/www.nakilat.com\/company-overview\/\" style=\"\">Nakilat<\/a><\/span><span style=\"font-weight:700\"> reports growth in net income: <\/span><span style=\"\">Qatari liquified natural gas <\/span><span style=\"\">(LNG) shipping company Nakilat, reported a 3.6% <\/span><span style=\"\">y-o-y<\/span><span style=\"\"> rise in net income to QAR 396 in 1Q 2023, according to the company\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/4\/EN-Q1-Results-PRL-2023-final_637.pdf\" style=\"\">e<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/4\/EN-Q1-Results-PRL-2023-final_637.pdf\" style=\"\">arnings release (pdf)<\/a><\/span><span style=\"\">. <\/span><span style=\"\">Total revenues for the quarter rose 5.3% y-o-y to QAR 1.12 bn, <\/span><span style=\"\">according to the company\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/4\/Nakilat%20Unaudited%20financial%20statment_640.pdf\" style=\"\">unaudited financial statements (pdf)<\/a><\/span><span style=\"font-weight:400;\">. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Net income was boosted by growing demand + effective cost management\u2026: <\/span><span style=\"\">The company attributed the increase in net income to the company\u2019s \u201ccontinued focus on operational efficiency, effective cost management, and robust market demand for its LNG shipping services.\u201d The financial statements also show a 7.9% boost in income from joint venture operations to reach QAR 171 mn during the quarter. Sales from the company\u2019s fully-owned ships also garnered QAR 878 mn in 1Q, an increase of a little under 1% y-o-y.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">\u2026which helped offset the rise in operating expenses: <\/span><span style=\"\">Operating expenses rose 5% y-o-y to QAR 194 mn during the quarter, according to the company\u2019s financials.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nakilat\u2019s net income boost was driven by robust demand for LNG shipments<\/p>\n","protected":false},"author":1,"featured_media":70254,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[175],"tags":[448,174,17,173,153,33],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-70253","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-earnings","tag-earnings-watch","tag-enterprise-logistics","tag-nakilat","tag-qatar","tag-shipping","wpautop","entry"],"acf":{"mongo_id":"a0a976f5-f633-4069-bed8-a8d4f7a2ea61","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/4\/633.jpg","photo_position":"above","homepage_title":"","full_issue_title":"","related_issue":[70238],"teaser":"Nakilat\u2019s net income boost was driven by robust demand for LNG shipments","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/4\/.7f9bf398-12e0-432c-bc17-464d7d0f768e.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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