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PEC posts net income of $1.76 million in Q1 2022

2022-05-16

According to the financial statements of Palestine Electric Company PEC for the 1st Quarter of 2022, Net profit after tax of the period reached 1,762,160 USD Compared with Net profit after tax 3,215,638 USD for 2021, a net decrease in profit of 45.20%.Total assets of the company reached 122,408,297 USD compared with total assets of 115,163,029 USD at the end of year 2021, a net increase of 6.29%.Total liabilities of the company reached 27,445,652 USD compared with total liabilities of 11,762,544 USD at the end of year 2021, a net increase of 133.33%. Net ownership equity of the company reached 94,962,645 USD compared with total owner equity of 103,400,485 USD at the end of year 2021, a net decrease of 8.16%.