Qatar Electricity & Water Discloses Interim Financial Statement for Three-Month Period Ended March 31, 2017

April 19, 2017

Qatar Electricity & Water Company disclosed the interim financial statement for the three-month period ended March 31, 2017.The statements shows that the net profit is QR 350 Million Compared to net profit amounting to QR 347 Million for the same period of the previous year.

The Earnings per Share (EPS) amounted to QR 3.18 for the period ended March 31, 2017 compared to EPS amounted to QR 3.16 for the same period of the previous year.

The Group's Comment

Qatar Electricity & Water Company's net operational income dropped by 14.6% to QR 276 million in the first quarter of 2017, as result of a significant rise in the operating cost. Public and administrative expenses increased by 4.9% to QR 51 million.  Net financing cost amounted to QR 38.3 million. Adding other sources of income worth QR41.8 million, its share from other joint ventures worth QR 128.4 million, then the profit posted in this quarter stands at QR 356.1 million, without change. The company registered a comprehensive income of QR 147.6 million-- compared to losses incurred in the same period last year. The total income attributable to shareholders increased by 47.5% to QR 497.9 million.