Dominion Midstream Partners, LP (DM) has reported 35 percent jump in profit for the quarter ended Sep. 30, 2016. The company has earned $24.30 million in the quarter, compared with $18 million for the same period last year.    

Revenue during the quarter dropped 17.56 percent to $85 million from $103.10 million in the previous year period. Gross margin for the quarter expanded 1964 basis points over the previous year period to 96.94 percent. Total expenses were 43.88 percent of quarterly revenues, down from 52.76 percent for the same period last year. This has led to an improvement of 888 basis points in operating margin to 56.12 percent

Operating income for the quarter was $47.70 million, compared with $48.70 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $27.90 million compared with $20.30 million in the prior year period. At the same time, adjusted EBITDA margin improved 1313 basis points in the quarter to 32.82 percent from 19.69 percent in the last year period.  

The company has spent $962.10 million cash to meet investing activities during the nine month period as against cash outgo of $850.40 million in the last year period.

Cash flow from financing activities was $774.10 million for the nine month period, up 32.01 percent or $187.70 million, when compared with the last year period.

Cash and cash equivalents stood at $57.10 million as on Sep. 30, 2016, down 46.64 percent or $49.90 million from $107 million on Sep. 30, 2015.