RIYADH: Saudi Electricity Company (SEC) posted a 1 percent fall in third-quarter net profit, missing analysts' forecasts, as its power generation capacity increased. Profit fell to SR2.853 billion ($761 million) in the three months ended Sept. 30, from SR2.875 billion in the same period a year earlier, the utility said in a bourse statement on Sunday.

Two analysts polled by Reuters had forecast SEC would have profits of more than SR2.9 billion. Operational income dipped 3 percent to SR2.74 billion.