Public Power Corp reported Tuesday a sharp drop in its nine-month net profits largely due to higher purchase cost of electricity power.
Greece’s main electricity producer said that its nine-month profits fell by 53% to EUR72.2 million versus EUR154.8 million in the respective period of 2005.
In contrast, revenues were higher by 10% to EUR3.57 billion compared with EUR3.24 billion in 2005.
The rise in revenues came from a 6% rise in electricity volumes and a 3.2% tariff increases which came into effect in September 2005, the company said.