Qatar Electricity and Water posts 6.1 pct Q2 net profit dip
DUBAI, July 13 (Reuters) – Qatar Electricity and Water Co. (QEWC), the Gulf state’s monopoly utility firm, reported a 6.1 percent fall in second-quarter net profit on Monday, according to Reuters calculations, missing the analysts’ forecast.
The utility made a profit of 390.9 million riyals ($107.4 million) in the three months to June 30, compared to 416.5 million riyals in the same year-ago period, Reuters calculations showed, using financial statements in lieu of a quarterly earnings breakdown.
Three analysts polled by Reuters had, on average, forecast a quarterly profit of 428.9 million riyals.
QEWC recorded a net profit in the first six months of 2015 of 737 million riyals, up from 716 million riyals in the corresponding period of last year, it said in a short statement.
($1 = 3.6410 Qatar riyals at the time of publishing)
(Reporting by David French; Editing by Miral Fahmy)