Business

QEWC Records Net Profits of QR 318 Million in 2024 Q1

Qatar NewswireComments Off on QEWC Records Net Profits of QR 318 Million in 2024 Q1

Doha: Qatar Electricity and Water Company (QEWC) recorded a net profits of QR 318 million in the first quarter of 2024, compared to QR 401 million for the same period in 2023, a 21 percent decrease.

The company stated that the earnings per share for the first quarter of 2024 amounted to QR 0.29, compared to QR 0.36 for the same quarter of 2023.

The company’s revenues for the first quarter reached QR 687 million, compared to QR 658 million for the same period in 2023, representing a 4 percent increase.

QEWC enjoys excellent financial status according to Moody’s, with a strong credit rating of ‘A1’ and a stable outlook.

QEWC was established in 1990 with a capital of QR 1 billion and is listed on the Qatar Stock Exchange.

Source: Qatar News Agency

Qatar Newswire

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