Finnish Fortum's comparable earnings in the third quarter of the year increased by 10 percent to €230 million from €210 million during the same quarter of last year, the company said Wednesday.
Fortum said earnings include a €26 million profit from selling a 54 percent share of the company's Indian solar power plants.
Revenues from sales also increased to €971 million from €919 million in the same quarter of 2017.
However, the company's operating profit in the third quarter of 2018 decreased to €91 million from €387 million on an annual basis.
"The third quarter of 2018 was characterized by warm and dry weather. Following the dry weather in previous quarters, the Nordic hydro reservoirs further declined compared to the normal level, and the deficit was most prominent in the Swedish reservoirs," President and CEO Pekka Lundmark said.
He added this heavily affected Fortum's hydro production volumes, which were historically low, and burdened the results, adding that during the last weeks of the quarter the reservoir levels increased only in Norway.
By Murat Temizer