DOHA: Qatar Electricity and Water Company (QEWC) announced QR1,156m net profit (net of non-controlling interests) for nine months ending September 30, 2018 against QR1,311m for the same period in 2017. The Earning per Share (EPS) amounted to QR10.51 in 2018 compared to QR11.92 for the same period of the year 2017.
The Board of Directors of QEWC held its fifth meeting for the year 2018 yesterday which was chaired by Minister of Energy and Industry H E Dr Mohammed bin Saleh Al Sada, Chairman of the Board of Directors. The Board discussed the financial results for the Nine months ended September 30, 2018 and the financial position for that period, which was reviewed by the external auditors Ernst & Young.
The financial statements showed sales of QR2,016m, as against QR2,364m for the same period 2017. The Board was briefed on the progress of the projects under construction, include Lusail Tower Project.
The Board was also briefed on the development of Siraj Power Company, which was established in partnership with Qatar Petroleum for the purpose of constructing and operating solar power plants. The Board also discussed the external projects being undertaken by Nebras Energy Company. The Board expressed its satisfaction with the company’s financial performance and praised the company’s efforts in implementing its new projects and future plans.
