Mubasher: Qatar Electricity and Water Company posted a 31.4% year-on-year profit drop during the third quarter of 2018.

Net profits amounted to QAR 343 million in Q3-18, compared to QAR 500 million in Q3-17, according to a filing to the Qatar Stock Exchange (QSE) late on Wednesday.

Earnings per share (EPS) amounted to QAR 10.51 for the three-month period ended 30 September, against QAR 11.92 in the same period a year earlier.

The company’s profits recorded QAR 1.15 billion for the nine-month period ended September, from QAR 1.31 billion in the same period of the prior year.

As for the first six months of 2018, net profits of the Qatar-based company inched up 0.25% to QAR 813 million, from QAR 811 million in H1-17.

By 09:38 am Qatar time, Qatar Electricity’s stock plunged 1.82% at QAR 189.09.