The company posted earnings before interest, taxes depreciation and amortization, or EBITDA, of RON246.9 million in January through March, up 27.9% on the year.
Earnings before interest and taxes, or EBIT, rose 52.2% to RON164.94 million, Transelectrica said in its preliminary financial report.
Total revenues increased to RON698.8 million in the first quarter, from RON577.9 million in the year-ago period.
Revenues from transport services were up 5.84% on the year to RON326.53 million.
The results are unaudited, unconsolidated and computed under international accounting standards, or IAS.
For the whole of 2014, Transelectrica expects its net profit will fall to RON96.9 million, from RON203.3 million in the previous year, due to higher projected costs.
Transelectrica is 58.69%-owned by the state, through the government’s General Secretariat, while investment fund Fondul Proprietatea holds a 13.5% stake. The remaining shares are traded on the Bucharest stock exchange.
Friday, Transelectrica closed up 1.85% at RON19.85 a share. (EUR1=RON4.4295)