Photo from uhp.kharkov.ua
State-run Ukrhydroenergo, the operator of hydropower plants in Ukraine, increased its net profit by 2.3 times in January-March 2017 year-over-year (y-o-y), to UAH 854.4 million, or US$32.18 million, according to a company announcement in the National Securities and Stock Market Commission's information disclosure system.
Ukrhydroenergo saw a 31.7% growth in net revenue in Q1 2017 y-o-y, to UAH 1.7 billion, or $64.03 million, as well as a 55.5 % rise in gross profit, to UAH 1.1 billion, or $41.43 million, the report said.
Read alsoUkraine set to boost its nuclear and hydropower generation - PMUNIAN memo. Ukrhydroenergo was established in early 2004 by merging two state joint-stock energy generating companies Dniprohydroenergo and Dnisterhydroenergo. The merged company now operates nine hydroelectric power plants with a total capacity of 5.008 GW.