Dana Gas’ net profit increases to $24m during Q1 2021


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SULAIMANI — United Arab Emirates-based Dana Gas said on Sunday (May 9) that it experienced a 41 percent year-on-year increase in the company’s net profit during the first three months of 2021 to $24 million.

Th company, which has significant assets in the Kurdistan Region, said in a report that its net profit during the first quarter of 2020 was $17 million.

It said that the reasons behind the increase were “improved revenues from higher production” in the Kurdistan Region and “a reduction in finance cost due to lower borrowings” during the first three months of 2021 as compared with the same period of 2020.

The company’s revenue was $106 million this past quarter, a two percent rise year-on-year.

(NRT Digital Media)