Petrochemicals, metals and fertiliser producer Industries Qatar (IQ) posted a 63 percent drop in fourth-quarter net profit on Sunday, missing analysts' forecasts.
The Middle East's second-biggest petrochemicals company by market value reported a profit of 230 million riyals ($63.2 million) for the three months to December 31, Reuters calculated based on financial statements in lieu of a quarterly breakdown.
The firm's annual net profit was 2.96 billion riyals, down from 4.47 billion riyals in 2015, it said in a statement.