DOHA: 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 QR769mn compared to QR685mn for the same period in 2022.

A company statement on Monday indicated that the earnings per share (EPS) amounted to QR0.70 as of June 30, 2023, versus EPS QR0.62 for the same period in 2022.

The statement noted that under the chairmanship of the Minister of State for Energy Affairs HE Eng Saad bin Sherida Al Kaabi on Monday, the Board of Directors of QEWC approved the financial results for the first half that ended on June 30, 2023.

The statement pointed out that QEWC reported revenue of QR1,380mn compared to QR1,200mn 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 QR1bn, and is a company listed on the Qatar Stock Exchange.

© Copyright Qatar Tribune. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).