Thursday, May 14, 2009

Romania's Transelectrica Q1 net profit down 42.5 pct

BUCHAREST, May 14 (Reuters) - Romanian state-owned power grid operator Transelectrica (TSEL.BX) posted a 42.5 percent drop in first-quarter net profit on Thursday, below market expectations.

Transelectrica posted a net profit of 47.3 million lei ($15.4 million), compared with an average expectation of about 70 million lei in a Reuters poll.

Last year, its net profit fell 19 percent to 41.9 million lei. (Reporting by Marius Zaharia, editing by Will Waterman)

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