Electricity & Water Company Profits in Q2, 2017 Rise 2.5% to QR 811 Million   
Earnings per share amounted to QR 7.37
 
July 26,  2017 
 
Qatar Electricity & Water Company profits in the first half of the year amounted to QR 811 million  compared to QR 791 million in the corresponding period last year. The earnings per share amounted to QR 7.37 versus QR 7.19 in the corresponding period in 2016.
 
The Group Securities Comment:
 
Total operating revenues of the company decreased by 5.8% to QR 660.5 million in the first half. Total general and administrative expenses increased by 7.2% to QR 99.7 million. After adding a share in the profits of sister companies worth QR 286.6 million (compared to QR 185.8 million in the corresponding period last year) and deducting the cost of financing which increased by 10.8% to QR 89 million, the net profit for the period increased by 2.4% to QR 810.6 million. There was a decline in the fair value of investments amounting to QR 168.8 million compared to a decrease of QR 86.6 million in the corresponding period in 2016. The comprehensive income decreased by 9% to QR 641.7 million compared to QR 704.7 million in the corresponding period last year.