Copel H1 Profit Rises - Quick Facts

(RTTNews) - Companhia Paranaense de Energia or Copel (ELP) reported that net income attributed to controlling shareholders for the first half of 2013 increased to R$632.46 million from R$491.66 million in the prior year period. Earnings per share were R$2.38, up from R$1.84 last year.

Copel's net income totaled R$650.3 million in the first half of 2013, 28.8% up on the R$504.7 million recorded in the first half of 2012, chiefly due to (i) higher revenue from electricity sales to final customers and distributors, and (ii) lower costs related to personnel and charges for the use of the transmission grid in the period. The increase in the financial result also contributed to the period upturn in net income.

Operating revenue for the period reached R$4.48 billion, up 10.6% from last year's R$4.05 billion in the same period last year.