The Japanese utility posted revenue of 199.02 billion yen for the quarter, up from 186.08 billion yen in the prior year. However, increased operational expenses weighed heavily on the bottom line. Operating profit fell to 26.60 billion yen compared to 36.27 billion yen, while pretax profit dropped to 29.15 billion yen from 35.88 billion yen. Earnings per share also saw a contraction, settling at 106.26 yen against 134.01 yen in the previous fiscal cycle. These results were prepared in accordance with Japanese accounting standards.
Hokuriku Electric Power Profits Slip Amid Rising Costs
Hokuriku Electric Power reported a net profit of 22.20 billion yen for the first quarter ending June 30, a decline from the 27.99 billion yen recorded during the same period last year. Despite a modest increase in revenue, the utility struggled to maintain its previous year's earnings margins.
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