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Red Electrica Q3 profit climbs YOY

Red Eléctrica Corporación SA said its third-quarter normalized net income came to €129.8 million, an increase from €123.8 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 increased to 26.2% from 25.4% in the year-earlier period.

Total revenue rose year over year to €495.5 million from €486.5 million, and total operating expenses rose year over year to €257.0 million from €254.1 million.

Reported net income increased 5.2% year over year to €155.5 million, or 29 cents per share, from €147.8 million.