DUBAI - Middle East petrochemicals, metals and fertiliser group Industries Qatar (IQ) saw a near 80 percent jump in earnings in the third quarter, a results release indicated on Thursday.

According to Reuters calculations - based on the company's release of January-September earnings - IQ made a net profit of 1.32 billion riyals ($363 million) in July-September. That was up from 747.8 million riyals in the corresponding period of last year.

The company reported a net profit of 3.8 billion riyals for January-September, up from 2.4 billion riyals a year earlier.

IQ is the Middle East's second-biggest petrochemicals company by market value.

EFG Hermes forecast a third-quarter profit of 1.30 billion riyals and QNB Financial Services expected a profit of 1.29 billion riyals.

QNB said the quarterly performance was helped by a 33.5 percent year on year rise in steel sales.

While IQ did not give a breakdown for the third quarter, it said the nine-month performance was ahead of the group's budget expectations for 2018 and was driven by factors including increased product prices, moderate growth in sales volumes and cost savings.

($1 = 3.6400 Qatar riyals)

(Reporting By Tom Arnold; Editing by Susan Fenton) ((Tom.Arnold@thomsonreuters.com; +97144536265; Reuters Messaging: tom.arnold.thomsonreuters.com@reuters.net))