May 7, 2020 / 4:03 PM / 22 days ago

Portugal's EDP posts 45% profit rise despite coronavirus

LISBON, May 7 (Reuters) - Portugal’s largest utility EDP posted on Thursday a 45% rise in first-quarter net profit to 146 million euros ($157.59 million) despite the wider impact of the coronavirus on the economy.

EDP said its profit during the first three months of the year grew exponentially after last year’s first quarter was strongly penalised by an “abnormally low hydro production”, especially in Portugal. (Reporting by Catarina Demony and Sergio Gonçalves, Editing by Andrei Khalip)

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