(MENAFN) AusNet Services, the Australian energy company, recorded a net profit of about USD22.6 million in the first quarter of the year, marking a huge 87 percent slump, Sky News reported.
The company, which was previously known as SP AusNet and currently operates three energy networks in Victoria, said that the decline is attributed to payments regarding tax settlement disputes.
"AusNet Services continues to assess acquisition opportunities and other corporate transactions as they arise, along with pursuing opportunities for further organic growth in existing and related businesses," the company said.
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