November 12, 2014 / 10:16 AM / 3 years ago

CORRECTED-Canadian Solar profit jumps on sale of power plants

1 Min Read

(Corrects headline to remove incorrect reference to profit doubling. Corrects paragraph 1 to say profit rose nearly four-fold, not nearly doubled. Corrects paragraph 2 to say year-earlier profit was $27.7 million, or 56 cents per share, not $55.8 million, or 95 cents per share. Corrects paragraph 3 to say revenue rose 86 percent, not 47 percent)

Nov 12 (Reuters) - Canadian Solar Inc's third-quarter profit rose nearly four-fold, helped by the sale of five utility-scale solar power plants in Canada.

Net profit attributable to the company rose to $104.2 million, or $1.75 per share, from $27.7 million, or 56 cents per share, a year earlier.

Revenue shot up 86 percent to $914.4 million. (Reporting By Swetha Gopinath and Shubhankar Chakravorty in Bangalore; Editing by Simon Jennings)

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