AusNet's annual profit rises sharply

A one-off tax benefit and metering infrastructure customer rebate helped AusNet Services deliver a sharp rise in full-year annual profit.

Energy company AusNet Services has posted a sharp jump in annual profit, thanks in part to a one-off tax benefit and metering infrastructure customer rebate.

Net profit rose for the 12 months to March 31 was $489.3 million, up from $22.6 million a year earlier.

Excluding a one-off tax benefit of $163.1 million, annual profit after tax from continuing operations would have been $326.2 million.