UAE-based Dana Gas reports USD24 million net profit

May 09, 2021 AlShorts Web Desk

UAE-based Dana Gas reported USD24 million net profit in first quarter of 2021, which was up by 41% compared to the same period last year. The increase in net profit is a result of improved revenues from higher production in Kurdistan Region of Iraq (KRI) and reduction in finance cost due to lower borrowings in Q1 2021. Revenue was USD106 million, 2% higher compared to USD104 million last year.