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Brazil Eletrobras reports 87% fall in Q3 profit to 96 mln reais

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BRASILIA, Nov 12 (Reuters) - Brazilian state-owned power company Eletrobras posted a third-quarter net profit of 96 million reais ($17.8 mln), down 87% from a year earlier on lower revenue from power generation and a rise in contingency provisions.

Earnings before interest, taxes, depreciation and amortization fell 29% from a year earlier to 1.96 billion reais, and overall gross revenue inched up 2% to 9 billion reais, Eletrobras said in a securities filing on Thursday.

Investments in the quarter rose 19% to 681 million reais, and the number of employees fell 9% to 12,547, it said.

Economy Minister Paulo Guedes said this week that Eletrobras will be one of the first state-owned companies to be privatized next year.

($1 = 5.39 reais) (Reporting by Jamie McGeever; Editing by Toby Chopra)