October 28, 2016 / 4:05 PM / a year ago

Grupo Mexico's profit slumps in third quarter

MEXICO CITY, Oct 28 (Reuters) - Mexican mining, rail, and infrastructure company Grupo Mexico posted a drop in third-quarter profit of 25.6 percent.

Grupo Mexico in a filing dated Oct. 27 reported a net profit of $220.6 million, compared to $296.5 million in the year-earlier period.

The company’s revenue rose 9.9 percent to $2.1 billion, boosted by an increase in its low-cost copper production due to expanded operations at its Buenavista mine in northern Mexico.

But the company said that it had an “other income” loss of $81.8 million, compared to a gain of $150.5 million in the same line item in the year-earlier period. (Reporting by Joanna Zuckerman Bernstein and Christine Murray; Editing by Meredith Mazzilli)

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