Now Reading
Qatar Electricity and Water Q2 Profit Falls 4.4%

Qatar Electricity and Water Q2 Profit Falls 4.4%

The state-run utility made a profit of QAR417 million ($115 million) in the three months to June 30 compared to QAR436 million in the prior-year period.

Qatar Electricity and Water Co (QEWC), the Gulf state’s monopoly utility firm, was in line with analyst estimates as it reported a 4.4 per cent fall in second-quarter net profit on Tuesday.

The state-run utility made a profit of QAR417 million ($115 million) in the three months to June 30 compared to QAR436 million in the prior-year period, Reuters calculated based on half-year figures published in a statement to Doha’s bourse.

Three analysts polled by Reuters had forecast QEWC would make a quarterly profit of QAR422.67 million.

The firm’s profit for the first six months of the year rose to QAR716 million from QAR637 million a year earlier. It did not publish revenue figures.

© 2020 MOTIVATE MEDIA GROUP. ALL RIGHTS RESERVED.

Scroll To Top