Mubasher: Qatar Electricity and Water Company (QEWC) reported a 21.6% year-on-year decrease in profits for the first quarter of 2019.

QEWC’s profits amounted to QAR 309 million ($85.11 million) in Q1-19, down from QAR 394 million ($108.52 million) in Q1-18, according to a statement to the Qatar Stock Exchange (QSE).

Earnings per share (EPS) reached QAR 2.81 from January to March, compared to QAR 3.59 in the same three months during 2018.

For the full-year 2018, QEWS’ profits rose 5% to QAR 1.54 billion, against QAR 1.62 billion in 2017.