Mubasher: Nebras Holding Company, a subsidiary of Qatar Electricity and Water Company (QEWC), on Thursday reported a 175% year-on-year hike in its profits during the full-year 2017.

Profits recorded QAR 476 million last year, compared to QAR 173 million in 2016, according to the company’s statement to the Qatar Stock Exchange (QSE).

Operating profits surged by 215% to QAR 382 million in 2017 against QAR 121 million in the previous year.

As for the full-year 2017, QEWC’s profits grew 4.8% to QAR 1.61 billion versus QAR 1.54 billion in the same period the year before, data showed.

By 10:33 am Qatar time, QEWC’s stock levelled down 3.13% at QAR 185.11.