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Chile's largest water utility, Aguas Andinas, posted 16.3bn pesos (US$34.1mn) in third quarter profits, down 10.4% compared to 3Q11.
The results were in line with analysts' expectations. Financial services firm IM Trust said that the decline is mainly explained by the US$11mn impact of the tax reform to fund public education, but was partially offset by higher operational results.
Third quarter revenue increased 5.8% to 80.5bn pesos, while for the first nine months of the year, revenue grew 6.9% to 279bn pesos, the company said in its latest financial statements.
For Banchile Inversiones, revenue growth was driven by the wastewater business line, up 7.3% in 3Q12 over 3Q11, and a 4.5-5.5% revenue growth for the rest of Aguas Andinas' lines, including potable water, and other regulated and non-regulated businesses.
"Considering that results from Aguas Andinas were in line with our expectations at an operational level, we don't expect a significant reaction in the stock price," Banchile's report reads.
Third quarter Ebitda stood at 45.5bn pesos, up 5.7% from the year-ago period.
For the full financial results, in Spanish, go to this link