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Qatar Electricity And Water Q1 Net Profit Rises 49%

Qatar Electricity And Water Q1 Net Profit Rises 49%

State-run utility’s net profit rises by nearly half in the three months to March 31.

Qatar Electricity and Water Co (QEWC) reported a 49 percent rise in first-quarter net profit on Tuesday.

The state-run utility made a profit of 299 million riyals ($82.1 million) in the three months to March 31, up from 201 million riyals in the prior-year period, according to a statement to Doha’s bourse.

Two analysts polled by Reuters forecast QEWC would make a quarterly profit of 238.4 million and 286.7 million riyals respectively. ($1 = 3.6411 Qatar Riyals) (Reporting by Matt Smith; Editing by David French)

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