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Qatar Electricity and Water Q1 net profit up marginally

April 20, 2016 12:04 pm


Qatar Electricity and Water Co (QEWC), the Gulf state’s monopoly utility firm, reported a 0.3 percent rise in first-quarter net profit on Wednesday.

 

The state-run utility made a profit of 347 million riyals ($95.31 million) in the three months to March 31, compared with 346 million riyals in the same period a year earlier, according to a statement to Doha’s bourse.

 

EFG-Hermes had forecast a quarterly profit for QEWC of 354.95 million riyals, while QNB Financial Services had forecast a profit of 356.34 million riyals.

Reuters
By Reuters
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