Huaneng Power International Inc. said third-quarter net profit more than doubled as lower operating and financing costs offset a drop in power prices and demand in China.
Net profit for the quarter was 3.40 billion yuan ($507.0 million) compared with CNY1.56 billion a year earlier, the Beijing-based company said late Tuesday.
Operating revenue fell 2.6% from a year earlier to CNY42.70 billion.
For the first nine months of the year, profit rose 69% to CNY9.13 billion, while revenue fell 4.3% to CNY121.82 billion, largely due to a decrease in power sales and prices in China, the company said.
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(END) Dow Jones Newswires
10-27-20 2028ET