Dubai - Mubasher: The Dubai Electricity and Water Authority (DEWA) posted net profits attributable to the owners of AED 3.14 billion during the first half (H1) of 2022, higher than AED 2.27 billion in H1-21.

In the first six months (6M) of 2022, the revenues increased by 15% year-on-year (YoY) to AED 12.07 billion, compared to AED 10.53 billion, according to the income statements.

The basic and diluted earnings per share (EPS) rose to AED 0.063 in H1-22 from AED 0.045 in H1-21.

During the second quarter (Q2) of 2022, the company’s net profits attributable to the owners jumped to AED 2.41 billion from AED 1.72 billion in Q2-21.

Meanwhile, the revenues amounted to AED 7 billion in April-June 2022, an annual surge of 14% from AED 6.12 billion. The basic and diluted EPS stood at AED 0.048 in Q2-22, versus AED 0.034 in the year-ago period.

Saeed Mohammed Al Tayer, Managing Director and CEO of DEWA, noted: “DEWA’s half year financial results demonstrate our commitment to advancing strategic priorities of sustainability focused smart growth, enhanced customer happiness, operational excellence, and attractive capital returns for ourshareholders.”

Last month, DEWA announced expansion plans to offer its energy and water services to 5.80 million people in Dubai by 2040.