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China Yangtze Power Q1 profit climbs 181.9% YOY

China Yangtze Power Co. Ltd. said its first-quarter normalized net income was 9 fen per share, an increase of 181.5% from 3 fen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.42 billion yuan, an increase of 181.9% from 503.9 million yuan in the prior-year period.

The normalized profit margin climbed to 37.1% from 14.1% in the year-earlier period.

Total revenue grew 7.3% year over year to 3.83 billion yuan from 3.57 billion yuan, and total operating expenses decreased year over year to 2.26 billion yuan from 2.33 billion yuan.

Reported net income grew 196.6% from the prior-year period to 1.89 billion yuan, or 11 fen per share, from 636.2 million yuan, or 4 fen per share.

As of April 29, US$1 was equivalent to 6.20 yuan.