Transelectrica Nine-Month Profit Falls on Rising Costs

Transelectrica SA, Romania’s power-grid operator, said nine-month profit plunged 87 percent because of a widening financial loss and surging costs.

Net income fell to 19.2 million lei ($5.4 million) in the first nine months of the year from 153.5 million lei in the same period last year, the Bucharest-based utility said in a regulatory filing to the stock exchange in the capital today. Revenue rose 5 percent to 2.18 billion lei, while expenses surged 14 percent to 2.15 billion lei.