TAQA financials turn profitable in Q2

TAQA financials turn profitable in Q2
The cost of sales shrank by 19% to AED 2.76 billion
Taqa TAQA 0.00% 0.66 0.00

Abu Dhabi – Mubasher: Abu Dhabi National Energy (TAQA) achieved a profit of AED 288 million ($78.39 million) in the second quarter of 2017 against losses of AED 373 million ($101.5 million) in the same quarter a year ago.

Total revenues rose by 4.2% to total AED 4.2 billion in Q2-17 from AED 4.03 billion in Q2-16, according to a bourse statement issued on Thursday.

The cost of sales shrank by 19% to AED 2.76 billion in Q2-17 from AED 3.39 billion in Q2-16.

During the first half of 2017, TAQA recorded a profit of AED 517 million versus a loss of AED 848 million in the same half of 2016.

In the first quarter this year, the company posted profits worth AED 77 million against losses of AED 608 million in Q1-16.

Related topics
Source: Mubasher

Comments