KATHMANDU: Qatar Airways Group announced a three billion Qatari riyal operating profit for fiscal year 2016 — nearly three times greater than fiscal 2015 profit of 1.1 billion Qatari riyal, resulting in an 8.6 per cent operating profit margin, an improvement of nearly six percentage points from the prior year, from 35.6 billion Qatari riyal in revenues. The company reported a net profit of 1.6 billion Qatari riyal, resulting in a net profit margin of 4.5 per cent, as per a press statement issued on Monday. Net profit for fiscal 2015 was 1.1 per cent, at 374 million Qatari riyal. Qatar Airways growth rate (CAGR) in ASK term since the re-launch in 1997 to March 31 is 28 per cent. For the year ending March 31, Qatar Airways Group reduced its expenses 1.5 per cent and increased its cash and bank balance from 5.5 billion Qatari riyal to 12 billion Qatari riyal.