Romanian power grid operator Transelectrica said on Friday its net
profit surged 130% to303 million lei ($85.3 million/68.5million euro) in the
first nine months of 2014 as revenuegrew faster than
costs.
Transelectrica delivered a total of 37.6million megawatt hours
(MWh) to consumers in the first nine months of the year, down from 38.4 million
MWh a year earlier, it said in a statement filed with the Bucharest Stock
Exchange.
Commenting on Transelectrica's financial results, Raiffeisen
Bank said in a note to investors: "We are positive after the results and keep
Buy recommendation. Will review target price and estimates."
The Romanian
finance ministry owns nearly 59% of Transelectrica, which is among the 10 most
liquid stocks on the Bucharest bourse and is included in its blue-chip BET
index.
Its shares were trading 1.58% up at 29lei by 0915CET on
Friday.