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PEC posts net income of $5.27 million in Q1 2023

2023-05-17

According to the financial statements of Palestine Electric Company PEC for the 1st Quarter of 2023, Net profit after tax of the period reached 5,266,658 USD Compared with Net profit after tax 1,762,160 USD for 2022, a net increase in profit of 198.88%.Total assets of the company reached 140,363,913 USD compared with total assets of 130,458,113 USD at the end of year 2022, a net increase of 7.59%.Total liabilities of the company reached 27,872,120 USD compared with total liabilities of 23,232,978 USD at the end of year 2022, a net increase of 19.96%. Net ownership equity of the company reached 112,491,793 USD compared with total owner equity of 107,225,135 USD at the end of year 2022, a net increase of 4.91%.