July 27, 2009 / 10:02 PM / 9 years ago

UPDATE 1-Great Lakes Hydro posts higher Q2 profit

* Q2 income before non-cash items C$0.62/unit

* Q2 revenue C$65.4 mln

July 27 (Reuters) - Canada’s Great Lakes Hydro Income Fund’s GLH_u.TO quarterly profit rose as its revenue increased 16 percent on higher prices realized on power generated. For the second quarter, the fund reported income of C$33.5 million ($30.99 million), before non-cash items, or 62 Canadian cents per unit, compared with C$31.4 million, or 65 Canadian cents per unit, a year ago.

Revenue was C$65.4 million compared with revenue of C$56.6 million a year earlier.

Quarterly distributions were C$16.7 million, or 31 Canadian cents per unit, compared with C$15.1 million or 31 Canadian cents per unit, a year ago.

During the quarter, the fund generated 1,271 gigawatt hours (GWH) of electricity compared with 1,260 GWH in the year-ago quarter.

Average price per megawatt hour (MWH) was C$51.47, up from C$44.91 per MWH, a year ago.

Units of the trust closed up 30 Canadian cents at C$16.77 Monday on the Toronto Stock Exchange. ($1=1.081 CANADIAN DOLLAR) (Reporting by Ashutosh Joshi in Bangalore; Editing by Unnikrishnan Nair)

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