Hydro One Ltd. H-T reported its first-quarter profit rose compared with a year earlier, helped by higher revenue.
The power utility says it earned net income attributable to common shareholders of $293-million or 49 cents per diluted share for the quarter ended March 31.
The result compared with a profit of $282-million or 47 cents per diluted share in the first quarter of 2023.
Revenue for the quarter totalled $2.17-billion, up from $2.07-billion in the same quarter last year.
Revenue, net of purchased power, amounted to $1.07-billion, up from $1.06-billion a year earlier.
Hydro One is Ontario’s largest electricity transmission and distribution provider with about 1.5 million customers.