Transelectrica’s net profit reached 131.58 million lei (EUR29.8 million) in January to September, from RON10.49 million in the similar period a year earlier.
The company’s operating profit reached RON159.5 million in the analyzed period, from RON83.06 million in the first nine months of 2012. The bottom-line was also helped by a 35% decrease in financial costs, according to the company’s quarterly report.
Transelectrica reported operating revenue of RON1.69 billion, down 19.9% on the year, while operating costs fell 24.5% to RON1.53 billion.
In the third quarter alone, Transelectrica posted net profit of RON28.8 million, versus a loss of RON9.9 million in the same period a year ago.
Transelectrica is controlled by the Romanian Finance Ministry (58.69%). Other main shareholders include investment funds Fondul Proprietatea (FP.RO), with 13.5%, and SIF Oltenia (SIF5.RO), with 7.11%.
On the Bucharest Stock Exchange Thursday, Transelectrica opened down 1%, in a slightly moved market. (EUR1=RON4.4619)