Welcome to Oslo, the Norwegian capital. Oslo is home to the royal family, the parliament, and close to one-fifth of all Norwegians. I'm here today at the headquarters of our portfolio company, Volue, to present the third quarter financial results from Arendals Fossekompani. Total operating revenues for Arendals Fossekompani amounted to NOK 1.1 billion in the third quarter. Group revenues thus increased by 28% year-over-year, when adjusted for lumpy property sales from last year. Consolidated earnings before tax were NOK 122 million. That is 22% higher than the same quarter a year ago. The strong operating profit was driven by high electricity prices. Even though production was only half of the previous year, our hydropower unit delivered substantial revenues and profit. The average spot price reached record high levels during the quarter. Since then, prices have fortunately calmed down.
That is good news for consumers as well as for our industrial companies. We are all hoping for a winter with energy prices at reasonable levels. I am pleased to say that Volue delivered very strong results in the third quarter. Volue continues to grow its base of recurring revenues and improved margins and is on track to meet ambitious 2025 targets. Another portfolio company, NSSLGlobal, also reported strong sales and operating profit, as well as a solid order intake. NSSLGlobal was able to extend several large projects and win significant new business. Our induction heating and induction charging company, ENRX, increased revenues by 17% year-over-year. However, profit was reduced by planned operating investments in the newly acquired IPT technology. We are so far very happy with this acquisition. Tekna, the advanced materials expert, reported 6% revenue growth in the Q3 .
Growth was slowed by downtime as machines underwent a planned upgrade. Tekna's backlog is significantly higher than a year ago, and revenue bookings should increase when all machines are upgraded. Our new battery technology company, Ampwell, also did well in its full Q1 under our ownership. NOK 34 million in revenues for the quarter is a promising start for Ampwell, a company that has a great growth trajectory for its battery-as-a-service model. As for Q3 dividend, Arendals Fossekompani is pleased to pay NOK 0.95 in cash per share. That is in line with our dividend policy. Looking ahead, we remain positive as to the future of our portfolio. Our companies are well-positioned in various global industry verticals with strong drivers. However, the ongoing war in Europe, the energy crisis, and the general economic outlook present risks that must be carefully navigated.
That's all for now. Please see more details in our Q3 written report, which is published on our website, arendalsfossekompani.no. From the Volue headquarters in Oslo, thank you for your attention and have a continued great day.