Clinton-based public utility Connecticut Water Service said its second-quarter profits rose 16 percent, thanks in part to its recovery of infrastructure investments in its home state.
Connecticut Water, which also has operations in Maine, said its net income increased $1.2 million, to $8.7 million, or 77 cents per diluted share. That was up from $7.5 million, or 67 cents, in the second quarter of 2014.
The company said cost-recovery mechanisms in both states, including the “Water Infrastructure and Conservation Adjustment in Connecticut, helped drive up profits, as did a rate increase authorized in Maine, where it owns The Maine Water Co.
Operating expenses were also down by approximately $300,000.