San Diego Gas & Electric Company (SRE) has reported 150.81 percent jump in profit for the quarter ended Sep. 30, 2016. The company has earned $622 million, or $2.46 a share in the quarter, compared with $248 million, or $0.99 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $259 million, or $1.02 a share compared with $248 million or $0.99 a share, a year ago. 

Revenue during the quarter went up marginally by 2.18 percent to $2,535 million from $2,481 million in the previous year period. Total expenses were 31.72 percent of quarterly revenues, down from 28.90 percent for the same period last year.

Operating income for the quarter was $3,339 million, compared with $3,198 million in the previous year period.

"Our strong third-quarter financial results keep us on track to meet our 2016 adjusted earnings-per-share guidance, while we continue to focus on executing our growth plan," said Debra L. Reed, chairman and chief executive officer of Sempra Energy. "IEnova finalized its acquisition of the GdC joint venture, announced nearly 400 megawatts of new renewable energy projects and successfully completed a $1.6 billion follow-on equity offering to help finance its growth."

For fiscal year 2016, the company expects diluted earnings per share to be in the range of $5 to $5.40. For fiscal year 2016, the company expects diluted earnings per share to be in the range of $4.60 to $5 on adjusted basis.

The company has spent $3,432 million cash to meet investing activities during the nine month period as against cash outgo of $1,979 million in the last year period. It has incurred net capital expenditure of $3,538 million on net basis during the nine month period, up 71.50 percent or $1,475 million from year ago period.

Cash flow from financing activities was $1,848 million for the nine month period, up 6,272.41 percent or $1,819 million, when compared with the last year period.

Cash and cash equivalents stood at stood at $518 million as at Sep. 30, 2016.