Dubai Electricity and Water Authority (DEWA) reported a net profit of AED 941.1 million for the first quarter ended 31 March 2026, nearly doubling the AED 495.6 million recorded in the same period the previous year.
Total revenue increased by 8.2% year-on-year to AED 6.45 billion, supported by strong operational performance and effective cost management as the cost of sales remained relatively stable at AED 4.47 billion.
Profitability was further bolstered by a 22.5% reduction in net finance costs, which dropped to AED 181.9 million, and a significant rise in operating profit to AED 1.29 billion from AED 838.2 million in Q1 2025.
The Group demonstrated strong liquidity with AED 3.89 billion in net cash generated from operating activities, while the statement of changes in equity noted a significant AED 5.19 billion acquisition of non-controlling interests during the period.
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