Qatar's state-run utility posts 4.4% fall in Q2 net profit

Qatar Electricity and Water Co says it made a profit of $115m in the three months to June 30
Electricity pylon
By Reuters
Tue 15 Jul 2014 01:40 PM

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 percent fall in second-quarter net profit on Tuesday.

The state-run utility made a profit of QR417 million ($115 million) in the three months to June 30 compared to QR436 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 QR422.67 million.

The firm's profit for the first six months of the year rose to QR716 million from QR637 million a year earlier. It did not publish revenue figures.

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