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QEWC posts $115mn second quarter earnings

Qatari state utility sees profit drop 4.4% in three months to June 30.

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Doha
Doha

Qatar Electricity and Water Co (QEWC) reported a 4.4% fall in second-quarter net profit to QAR 417mn ($115 mn) from QAR 436 mn in the three months to June 30, 2013.

The result was slightly below the QAR422.67 mn average estimate of three analysts polled by Reuters.

However for the first six months of the year earnings rose to QAR 716 mn from QAR 637 mn a year earlier.

The state run utility did not publish revenue figures for the periods in its earnings statement released to the Doha Stock Exchange.

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