Qatar Electricity & Water Company (QEWC) has posted a net profit of QR350mn (net of non-controlling interests) in the first quarter compared to QR347mn in the same period last year.
The earning per share (EPS) amounted to QR3.18 in Q1, 2017, compared with QR3.16 in the same period in 2016.
The company results were announced after a meeting of the QEWC board of directors presided over by its chairman, HE Dr Mohamed bin Saleh sl-Sada, also the Minister of Energy & Industry, in Doha last night.
The Board discussed the “positive” financial results for the quarter that ended in March and the financial position as of March 31.
QEWC had seen sales totalling QR720mn in the first quarter of this year compared with QR718mn in Q1, 2016. 
“The board expressed satisfaction with company’s financial performance,” QEWC said. 
The board discussed developments in the company’s various projects, which are under construction and under review. The major projects discussed are Ras Abu Fontas (A-3) Umm Al Houl Power and Lusail Tower Project.  
The board also discussed international projects, which are handled directly by Nebras Power Company, in which QEWC owns 60% of the capital.