Mubasher: Qatar Electricity and Water Company (QEWC) on Monday posted a 12.6% growth in its profits for the first quarter of 2018.

Profits amounted to QAR 394 million in Q1-18, compared to QAR 350 million in Q1-17, according to the company’s statement to the Qatar Stock Exchange (QSE).

Earnings per share (EPS) rose to QAR 3.59 for the three-month period ended 31 March 2018, versus QAR 3.18 for the same period in the previous year.

For the full-year 2017, the company’s profits levelled up 4.8% to QAR 1.61 billion from QAR 1.54 billion in 2016.

In February 2018, Qatar Electricity’s board approved distributing a cash dividend of QAR 7.75 per share, representing 77.5% of the share’s nominal value.