OSLO, Norway （AP） - Norwegian aluminum producer Norsk Hydro ASA has reported a third-quarter loss, mainly due to write-downs on investment as well as charges related to its Qatalum joint venture.
Wednesday's report showed a quarterly net loss of 104 million kroner （$17.7 million）, compared with a profit of just over 1 billion kroner in the same period last year. Last year's result was flattered by lower losses on derivatives investments and one-time accounting gains. The Qatalum aluminum plant, Norsk Hydro's joint venture with Qatar Petroleum, also incurred higher losses, partly due to a power shortage in August.
Net revenues in the quarter, however, rose 10 percent to 18.4 billion from a year earlier, when demand was pinched by the credit crunch.
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