Middle East > Qatar > Qatar Electricity and Water recorded a net profit 737 million riyals in the first six months of 2015

Qatar: Qatar Electricity and Water recorded a net profit 737 million riyals in the first six months of 2015

2015/08/05

Qatar Electricity and Water Co. (QEWC), the Gulf national’s monopoly utility firm, reported a 6.1 % fall in second-quarter net profit on Monday, according to Reuters calculations, missing the analysts’ estimate.

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, estimate a quarterly profit of 428.9 million riyals.

QEWC recorded a net profit in the initial 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)

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