Brookfield Infrastructure Partners LP has reported third-quarter net income of $104 million, which compares with $113 million in the prior-year quarter.

Current-year results benefited from the contribution associated with recently completed acquisitions and organic growth across its base business.

Brookfield said these positive impacts were partially offset by higher borrowing costs associated with the financing of growth initiatives and lower gains on currency and commodity contracts than in the same period last year.

Funds from operations in the quarter were $560 million, a 7 per cent increase compared with the same period last year, the company said.

“We had strong financial results and delivered on all of our strategic initiatives to date in 2023,” said Sam Pollock, chief executive of Brookfield Infrastructure Partners.

“We have demonstrated our ability to use our size, scale and diversification to continue recycling capital at good valuations, while investing at higher returns on our new investments.”

Brookfield said its take-private acquisition of Bermudian-based Triton International closed on September 28.

The organisation said it invested approximately $1.2 billion for a 28 per cent interest, funded primarily using new BIPC shares as transaction consideration.