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TERNA Q3 profit climbs 6.7% YOY

TERNA - Rete Elettrica Nazionale SpA said its third-quarter normalized net income came to €159.9 million, a rise of 6.7% from €149.8 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to 27.5% from 29.3% in the year-earlier period.

Total revenue rose 13.6% on an annual basis to €580.5 million from €511.1 million, and total operating expenses rose 20.1% year over year to €297.6 million from €247.8 million.

Reported net income increased 9.6% year over year to €177.5 million, or 9 cents per share, from €162.0 million.