ROME (dpa-AFX) - ENEL (ENLAY.PK, EN) Wednesday reported first-quarter net income of 1.17 billion euros, up 18.9 percent from 983 million euros last year. On a per share basis, earnings were 0.11 euros, up from 0.10 euros last year.
The increase in profit is attributable to the improvement in EBIT, a decline in net financial expenses from the efficient management of financial liabilities and lower taxes, especially in Italy.
Revenues for the three-month period dropped 2.2 percent to 18.95 billion euros from 19.37 billion euros last year. The decrease is mainly attributable to adverse exchange rate developments, particularly in South America.
Copyright RTT News/dpa-AFX