Chile's largest water utility, Aguas Andinas, posted 18.2bn pesos (US$35.3mn) in third quarter profits, down slightly by 0.51% when compared with 3Q10.
The company's bottom line was impacted by an increase in corporate taxes, which offset a 6.1% year-on-year growth in revenue to 76.4bn pesos, the firm's latest financial statements show.
Aguas Andinas reported a 14.5% increase in operational expenses, which reached 38.3bn pesos, financial services firm Celfin said in a note to investors.
Ebitda for the quarter was up marginally by 0.7% to 43.4bn pesos.
Water distribution revenue grew 7.4% to 29.3bn pesos and wastewater treatment sales improved 3.7% to 35.9bn pesos.
Celfin reiterated its buy recommendation on the company's stock, with a 12-month target price of 305 pesos per share.
For the full Celfin report, go to this link