Enersis posts 7 pct drop in 2014 net profit on Chile provisions
SANTIAGO Jan 29 (Reuters) - Latin American power company Enersis said late on Thursday that its net profit fell 7.3 percent in 2014 versus a year earlier due to multimillion dollar provisions at its generating unit Endesa Chile.
Enersis, a unit of Italian utility Enel, posted net profit of 610.16 billion pesos ($972.92 million) last year.
Earlier on Thursday Endesa-Chile said it had provisioned $22 million for its Punta Alcade coal-fired project and $121 million for its HidroAysen hydroelectric power project.
"If it weren't for these provisions, Enersis' net profit would have risen 1 percent," Enersis said in a statement.
For its part, Endesa-Chile saw its net profit contract 5 percent in 2014 from a year earlier to 334.56 billion pesos ($533.47 million).
Enersis and Endesa generate and distribute electricity in Argentina, Brazil, Chile, Colombia and Peru. ($1 = 627.1400 pesos) (Reporting by Anthony Esposito; Editing by Lisa Shumaker)
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