Huaneng Power International Inc. (HNP) Tuesday reported an increase in profit for the first quarter compared to the same quarter last year.
The Beijing, China-based company's first-quarter profit attributable to equity holders was RMB 2.553 billion or RMB 0.18 per share, compared to RMB 919 million or RMB 0.07 per share in the same period last year. The profit is equivalent to about US$403 million or US$0.03 per share.
The increase in net profit was mainly attributable to lower operating costs and to the decrease of fuel cost compared with the same period last year, said Huaneng.
For the first quarter of 2013, the company and its subsidiaries posted consolidated operating revenue of RMB 32.130 billion, down from RMB 34.26 billion in the year-ago quarter.
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