RABAT, March 22 (Reuters) - Taqa Morocco, which supplies about 38 percent of the country's electricity supply, said on Wednesday its 2016 net profit rose by 11.4 percent to 978 million Moroccan dirham ($98.07 million), citing improved operations and lower coal prices.
Owned by Abu Dhabi National Energy Co, Taqa Morocco operates the largest coal-fired power plant in the Middle East and North Africa.
Its revenues fell 8.5 percent to 8.05 billion dirhams, the company said. However, operations benefited from a 14 percent drop in coal prices, it said.
Consolidated margins have improved by 32 percent in 2016, up from 28 percent last year, the company said. ($1 = 9.9729 Moroccan dirham)
(Reporting by Samia Errazzouki) ((pat.markey@thomsonreuters.com; +213-661-692993; Reuters Messaging: pat.markey.thomsonreuters.com@reuters.net))
