November 15 (SeeNews) - Romanian power supplier and distributor Electrica [BSE:EL] said on Thursday it booked a consolidated net profit of 315 million lei ($76 million/67 million euro) in the first nine months of 2018, compared to a profit of 95 million lei in the prior-year period.
Electrica's operating revenues edged down by 1% on the year to 4.12 billion lei in the first nine months of 2018, the company said in an unaudited consolidated interim financial statement.
"This year we continue our very ambitious investment programme in our distribution networks, as well as the efforts to optimize and streamline our business, our priority being to improve the services that our 3.7 million customers benefit from, as well as ensuring sustainable financial results for our shareholders," Electrica CEO, Corina Popescu, said.
During the nine months ended September 30, Electrica distributed 13.2 Twh of electricity to approximately 3.7 million users, down 1.1% on the year.
Electrica's 2017 net profit fell to 257 million lei in 2017 from 265 million lei in the previous year mainly due to higher prices at which it purchased electricity.
Electrica plans to invest 905 million lei in 2018 in the rehabilitation and upgrade of its distribution network and to increase its operational efficiency. So far this year, it has invested 372 million lei.
The shares of Electrica, in which the Romanian state owns a stake of 48.8%, are listed on the Bucharest Stock Exchange and the London Stock Exchange.
Electrica's shares changed hands 0.56% higher at 10.8 lei by 1416 CET on Thursday in Bucharest.
(1 euro=4.6635 lei)