June 14 (SeeNews) - State-owned power utility Elektroprivreda Srbije (EPS) said its net profit fell to 4.879 billion dinars ($46.4 million/41.1 million euro) in the first quarter of 2019 from 9.091 billion dinars in the like period of the previous year.
The company's revenue rose 7.8% on the year to 68.629 billion dinars, while costs increased by 17.6% to 60.082 billion dinars, EPS said in an interim financial statement.
EPS produced 9.9 TWh of electricity in the first quarter, 2% above the planned output of 9.7 TWh for the period.
The electricity generated by hydropower plants exceeded the plan by 22%, while coal-fired power plants produced 5% less than envisaged.
Serbia's government plans to change the legal status of EPS to a joint stock company in 2020 in a move aimed to improve the viability of the power utility and ensure its professional management.
(1 euro = 118.182 dinars)
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