Aug 10 Canadian real estate and infrastructure investor Brookfield Asset Management reported lower funds from operations (FFO) for the second quarter as revenue from its renewable power unit fell.
Toronto-based Brookfield said funds from operations fell to $244 million, or $0.34 per share, from $309 million, or 45 cents per share, a year earlier.
FFO was impacted by below average generation in the renewable power operations and by market volatility on investment securities, the company said.
Net income attributable to shareholders fell to $138 million, or 17 cents per share, from $838 million, or $1.26 per share, a year earlier.
Revenue rose 8.3 percent to $4.29 billion. (Reporting by Maneesha Tiwari in Bangalore; Editing by Don Sebastian)