Kepco’s net profit boosted 61% compared to a year earlier

Korea Electric Power Corp. (Kepco), the state-run power company, said yesterday its net profit reached 1.56 trillion won ($1.37 billion) in the last quarter, up 61.1 percent from a year earlier thanks to higher electricity rates and expansion of overseas projects.

The company added that sales in the third quarter were 14.9 trillion won, up 4.3 percent from a year ago, while operating profit jumped 84.9 percent to reach 2.86 trillion won. The figures include earnings from Kepco and its subsidiaries.

Kepco said that increased electricity rates, reduced fuel costs and enhanced sales from its overseas projects have brought a solid third-quarter result. Sales from Kepco’s overseas project, including in the United Arab Emirates and Mexico, tallied 2.3 trillion won in the third quarter, up 37 percent from a year ago.