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Huaneng Power International profit beats consensus by 27.5% in Q3

Huaneng Power International Inc. said its normalized net income for the third quarter came to 10 fen per share, compared with the S&P Capital IQ consensus estimate of 8 fen per share.

EPS declined 43.0% year over year from 18 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.51 billion yuan, a decrease of 44.6% from 2.72 billion yuan in the year-earlier period.

The normalized profit margin declined to 3.8% from 7.5% in the year-earlier period.

Total revenue increased 9.8% year over year to 39.64 billion yuan from 36.11 billion yuan, and total operating expenses increased 24.1% on an annual basis to 35.80 billion yuan from 28.86 billion yuan.

Reported net income decreased 38.2% from the prior-year period to 2.07 billion yuan, or 14 fen per share, from 3.35 billion yuan, or 22 fen per share.

As of Oct. 24, US$1 was equivalent to 6.63 yuan.