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Dubai-listed National Central Cooling Company, also known as Tabreed, reported a profit attributable to equity holders of the parent of 150 million dirhams ($40.8 million) in Q2 2023, marginally down from AED 152 million in the year-ago period.
Revenue for the quarter grew year-on-year, reaching AED 604 million from AED 556 million in 2022.
Tabreed, which is based in Abu Dhabi, saw its H1 2023 profit reach AED 386 million, up from AED 240 million in 2022. Revenue for the half reached AED 1.067 billion, up from AED 976 million.
The company said in Dubai Financial Market (DFM) statements that its total connected capacity reached 1.3 million, with new plants in the UAE and Saudi Arabia, and that it had started commercial operations in India with the acquisition of Intellion Park, a TATA Realty development in Gurugram.
(Writing by Imogen Lillywhite; editing by Brinda Darasha)
