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QEWC reports better bottom line in Q1

Qatari utility sees earnings rise by around 16% in the three months to 31 March.

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Doha, Qatar
Doha, Qatar

Qatar Electricity and Water Company (QEWC) has booked a rise in profit in the first quarter compared to the same period a year earlier.

The utility reported net earnings of QAR 346mn in the three months to 31 March against QAR 299mn in the first leg of 2014, it said in a stock exchange statement.

Earnings per Share (EPS) amounted to QR 3.15 as of March 31, 2015 versus QR 2.69 of the same period in 2014.

QEWC gave no explanation for the improvement in its first quarter numbers.

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