Canada's TransAlta Q3 profit rises

Fri Oct 28, 2011 9:16am EDT
 
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(Reuters) - Power producer TransAlta Corp's (TA.TO: Quote) third-quarter profit rose 25 percent on higher hydro and wind margins.

TransAlta, known for coal, gas and renewable energy facilities in Canada and the United States, earned C$50 million ($50.3 million), or 22 Canadian cents a share, up from C$40 million, or 18 Canadian cents a share a year-ago.

However, revenue fell 3 percent to C$629 million, hurt by higher-than-expected outages at its Alberta coal and natural gas-fired facilities.

Gross margins improved to C$371 million, from C$336 million last year.

TransAlta shares closed at C$22.59 on the Toronto Stock Exchange on Thursday, representing a year-to-date increase of 6.5 percent. ($1 = 0.995 Canadian Dollar) (Reporting by Aftab Ahmed in Bangalore; Editing by Gopakumar Warrier)