Al Mahhar Holding Company reported a 19.1% increase in net profit attributable to equity holders, reaching QR42.4 million during the first nine months of 2026 compared with the same period the previous year. The company’s gross profit remained relatively steady at QR121.3 million, while gross margin improved to 17.5% from 17.2%. This margin enhancement was attributed primarily to the reversal of provisions for obsolete and slow-moving inventory, a favorable shift toward higher-margin rental revenue, and lower depreciation expenses recognized in cost of sales.
Net profit rose by 21.7% to QR44.5 million, supported by operational efficiencies, disciplined cost management, reduced finance costs, and increased income from associates and joint ventures. Consequently, the net profit margin improved to 6.4%. Earnings per share increased to QR0.20 from QR0.17 a year earlier, reflecting the overall boost in profitability.
As of September 30, 2026, Al Mahhar’s total assets stood at QR739.1 million, up from QR651.9 million at the end of 2025. Total equity increased to QR389.5 million from QR371.9 million, signaling continued financial robustness. The company’s cash and cash equivalents also rose sharply to QR143.5 million from QR103.1 million, strengthening liquidity and enabling greater financial flexibility to pursue strategic initiatives.
Al Mahhar’s revenue for the third quarter of 2026 declined slightly by 3.2% year-on-year to QR693.4 million but remained supported by the contributions of key operating subsidiaries. Petrotec continued to be the main revenue driver, bolstered by its subsidiaries Q-Cal, PSR, GAS, and Petrotec Kuwait, along with strong results from Q-FAB.
The group’s energy segment accounted for 91.3% of total revenue in Q3 2026, up from 84.1% during the same quarter in 2025, reflecting a strategic focus on energy-related infrastructure projects and a reduction in exposure to civil construction activities. Sales of equipment and spare parts made up 82.3% of total revenue, followed by service income at 12.3% and equipment rental at 5.4%.
Chairman Fahad Alfardan highlighted the company’s resilience amid a challenging environment and noted progress in executing strategic priorities. He emphasized that expanding the company’s presence in Qatar’s energy sector is central to its long-term growth strategy, positioning Al Mahhar to leverage opportunities tied to the country’s ongoing energy and infrastructure developments. Alfardan stated the company remains committed to strengthening its market position, deepening strategic partnerships, and pursuing initiatives that drive sustainable growth and shareholder value.