Qatar Electricity and Water Company Profits Drop 12% in H1 2024

Doha: Qatar Electricity and Water Company reported a 12 percent decline in net profits, reaching QR 680 million during the first half of 2024 compared to QR 769 million for the same period in 2023. A statement for the company indicated that earnings per share amounted to QR 0.62 as of 30th June 2024 versus earnings per share QR 0.70 for the same period in 2023. The statement indicated that the company achieved revenues of QR 1,431 million for the mentioned period of 2024, compared to QR 1,379 million during the same period in 2023, while operating profits amounted to QR 616 million, compared to QR 642 million during the same period in 2023. Qatar Electricity and Water Company announced the financial results for the first half of 2024 following the approval of the Board of Directors today. Qatar Electricity and Water Company, which was established in 1990 and its capital upon establishment amounted to QR 1 billion, is listed on the Qatar Stock Exchange (QSE). Source: Qatar News Agency