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Huaneng Power Int'l reports 65% plunge in 2011 net profit

Mar. 21, 2012 (China Knowledge) - Huaneng Power International Inc<600011><0902>, China's largest listed power company, announced yesterday that its net profit dived 65% year on year to RMB 1.2 billion under the international accounting rules.

The company said that the sharp decrease in net profit was due to rising coal costs.

The power producer's revenue jumped 28% year on year to RMB 133.4 billion in 2011.

The company's power plants in China generated 313.55 terawatt hours (TWhs) of electricity last year, 22.03% more than in the previous year. Electricity sales reached 295.72 TWhs in 2011, 22.30% more than that in 2010, China Knowledge reported earlier.

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