Hydro One reports $307M third-quarter profit, up from $300M a year ago

Hydro One Ltd. reported a third-quarter profit of $307 million, up from $300 million in the same quarter last year.

The power utility says the profit amounted to 51 cents per diluted share for the quarter ended Sept. 30.

The result compared with a profit of 50 cents per diluted share in the third quarter of 2021.

Revenue for the quarter totalled $2.03 billion, up from $1.91 billion in the same quarter last year.

Revenue, net of purchased power, was $1.07 billion, up from $980 million a year ago.

Hydro One is Ontario’s largest electricity transmission and distribution provider.

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