Consolidated sales revenue fell by 12.8% to 136.724 million euros, the Warsaw-listed company said in its performance report for the nine months.
"Sales revenue and volumes in Lithuania and Latvia declined, but we sold more electricity in Estonia and especially in Poland. Higher wind speeds in the region, which allowed increasing power output at the group's wind farm, also contributed to the positive results," Inter RAO Lietuva CEO Giedrius Balciunas said in a press release.
"The expansion and diversification of operations in other countries, as well as changes in the sales structure, helped to maintain the profitability of the whole group," he said.
The group's EBITDA for the three quarters jumped by 47% year-on-year to 18.256 million euros.
In the third quarter alone, the group's revenue fell by 19.7% year-on-year to 50.638 million euros, but its consolidated net profits more than doubled to 4.854 million euros.
According to Balciunas, the third quarter is usually the most difficult period of time for independent electricity suppliers.
The group sold 3,152 gigawatt-hours (GWh) of electricity during the nine months, down 1.8% year-on-year.
Inter RAO Lietuva, which is listed on the Warsaw Stock Exchange, trades in electricity on the Nord Pool Spot exchange. It owns one of the largest wind farms in Western Lithuania and also operates in Latvia, Estonia and Poland.
