Transelectrica reports 12 times lower profit

State-owned electricity operator, Transelectrica (ticker: TEL) reported a net profit of 11.45 million lei (€2.7 million) for the nine months through September, 12 times lower than the same period of last year, as turnover fell by merely 10%, according to a release to Bucharest Stock Exchange. In the first nine months, the company reaped a profit of 132.9 million lei and recorded revenues of 2.01 billion lei.Turnover fell 11% to 1.79 billion lei (€0.4 billion) in the period under ...

Developed by Codecraftsman