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Qatar Electricity & Water Net Profit Up
12.5% to QR394 MM in Q1 2018
April 23, 2018
The net profit of Qatar Electricity & Water Co. (QEWC) amounted to QR394
million in the first quarter of 2018, compared to QR350 million
for the corresponding period. The company’s earnings per share
recorded QR3.59, versus QR3.18 for the corresponding period of
2017.
The Group’s Comments:
Although QEWC’s revenues fell by 8.4% in the first quarter, the 19.5%
decrease in operating costs led to a 14.6% increase in total
profit to QR302.1 million. Other incomes increased by 58.6% to
QR66.3 million, while general and administrative expenses stood
at QR50.3 million. The cost of financing increased by 24.8% to
QR47.8 million, and the company's share in the profits of
associates increased slightly to QR131 million. As a result, the
net profit increased by 12.7% to QR401.4 million, and the
comprehensive income increased to QR849 million due to an
increase in fair value.
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