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.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.