Nalcor delivered its third-quarter financial results this morning via webcast – and profits are down.

Their profit for the nine months ending September 30 fell to $106-million, down $34-million from a year earlier.

The company points primarily to lower oil production and higher oil royalties paid to the province by Oil and Gas. Also contributing to the decrease were borrowing and operating costs associated with power transmission from Labrador.

The final batch of concrete was poured at Muskrat Falls in October – a grand total of 680,000 cubic metres from the first pour five years ago.

Nalcor reiterated during the webcast that there will be some power to the island from the Labrador Island Link this winter, but General Electric is still working on the software issue.