Kepco’s net profit boosted 61% com­pared to a year ear­lier

JoongAng Daily - - Business & Finance -

Korea Elec­tric Power Corp. (Kepco), the state-run power company, said yes­ter­day its net profit reached 1.56 tril­lion won ($1.37 bil­lion) in the last quar­ter, up 61.1 per­cent from a year ear­lier thanks to higher elec­tric­ity rates and ex­pan­sion of over­seas projects.

The company added that sales in the third quar­ter were 14.9 tril­lion won, up 4.3 per­cent from a year ago, while op­er­at­ing profit jumped 84.9 per­cent to reach 2.86 tril­lion won. The fig­ures in­clude earn­ings from Kepco and its sub­sidiaries.

Kepco said that in­creased elec­tric­ity rates, re­duced fuel costs and en­hanced sales from its over­seas projects have brought a solid third-quar­ter re­sult. Sales from Kepco’s over­seas project, in­clud­ing in the United Arab Emi­rates and Mex­ico, tal­lied 2.3 tril­lion won in the third quar­ter, up 37 per­cent from a year ago.

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