QEWC 9-month net profit up 14% to QR1.18bn
Gulf Times
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The Qatar Electricity and Water Company (QEWC) has reported a 14% increase year-on-year in net profit to QR1.18bn during the first nine months of this year. QEWC recorded revenue of QR1.84bn during January-September 2021, which however saw a decrease of 6% year-on-year. During the period, QEWC market share in Qatar in the supply of electricity was 61% and desalinated water was 71%, the company said in its regulatory filing with the Qatar Stock Exchange. QEWC, along with its joint ventures, has a total capacity of 10,590 MW of electricity and 543 MIGD (million imperial gallons per day) of water. The company said it would continue to focus on the renewable energy domain in 2021 through Siraj Energy, and also aims to expand into international markets through its joint venture company Nebras Power. QEWC recorded operational cash flows of QR1.06bn at the end of September 30, 2021 compared to QR872mn during the same period in 2020. Total assets were valued at QR18.69bn and net debt was QR2.24bn during the first nine months of this year.
