Net Profits Of Qatar Electricity & Water Co. Increase 12% During 2023 H1

Doha, August 07 (QNA) - The net profits of the Qatar Electricity & Water Co. (QEWC) increased by 12 percent in the first half of 2023, with a net profit of QR 769 million compared to QR 685 million for the same period in 2022. A company statement on Monday indicated that the Earnings per share (EPS) amounted to QR 0.70 as of 30th June 2023, versus Earnings per share (EPS) QR 0.62 for the same period in 2022. The statement noted that under the chairmanship of HE Minister of State for Energy Affairs Eng. Saad bin Sherida Al Kaabi on Monday, the Board of Directors of QEWC approved the financial results for the first half ended on 30th June 2023. The statement pointed out that QEWC reported revenue of QR 1,380 million compared to QR 1,200 million during the same period in 2022. QEWC was established in 1990, with the aim of owning and managing power generation and water desalination plants and selling their products. It is one of the first private sector companies in the region that works in the field of electricity production and water desalination. The company’s capital upon incorporation amounted to QR one billion, and is a company listed on the Qatar Stock Exchange. (QNA)