Romanian electricity supplier and distributor ups net profit 12%

Electricity supplier and distributor Electrica recorded a net profit of EUR 31.6 million in the first quarter of the year, up by 12% over the same period in 2015. The company supplied 8% more energy than in the first three months of last year. This led to a 3% growth in the revenues from the supply activity. The electricity distribution volume rose by 3%, but the revenues dropped by 10% year-on-year. This was mainly due to lower tariffs, according to Electrica. The operating revenues of Electrica totaled EUR 336 million in the first quarter, up by 6% year-on-year. In the first quarter of 2015, the company saw a net profit of EUR 28.2 million. editor@romania-insider.com