Chinese battery maker CATL posts faster profit growth in third quarter

BEIJING (Reuters) -Chinese electric vehicle battery giant CATL saw net profit growth accelerate in the third quarter, even as it faced increased competition from smaller rivals. Net profit rose 41.2% to 18.5 billion yuan ($2.60 billion) in the July-September period from a year earlier, picking up from a 33.7% increase in the second quarter, according to a stock filing on Monday. Revenue rose 12.9% year on year to 104.2 billion yuan, up from a 8.3% gain in the second quarter. ($1 = 7.1230 Chinese yuan renminbi) (Reporting by Qiaoyi Li, Zhang Yan and Brenda Goh; Editing by Kirsten Donovan)

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