Ontario power distributor Hydro One Ltd, whose shares made their debut on the Toronto Stock Exchange last week, reported an 11% rise in third-quarter profit on Friday, helped by higher demand due to warmer-than-usual weather.

The company, 85% owned by the Ontario provincial government, said its revenue rose 5.7% to $1.65 billion ($1.24 billion) in the three months ended Sept. 30.

Hydro One, which serves more than 1.2 million customers in the province, said average annual 60-minute peak demand rose 5% to 22.32 gigawatts during the period.

Ontario raised $1.66 billion from Hydro One's initial public offering, one of the largest ever in Canada. The government has said that as a public company Hydro One will become more customer-focused and efficient.

The company's capital investment rose 16.5% to $438 million in the quarter, compared with a year earlier.

Hydro One said it had invested $1.21 billion so far this year and deployed $869 million of new assets in-service.

The company's net income rose to $192 million from $173 million, helped by an 8.7% drop in operation, maintenance and administration expenses.

Up to Thursday's close of $22, Hydro One's shares had risen 7 percent since its shares started trading on Nov. 5.