Topeka ? Westar Energy Inc. posted a profit for the first quarter of 2003, bolstered by winter weather and classifying its troubled monitored security interests as discontinued operations.

Westar earned $123.7 million, or $1.72 per share. That compares to a loss in the first quarter of 2002 of $746.3 million, or $10.46 a share. Last year’s loss was associated with Westar’s adjustments of assets related to the Protection One security business.

The earnings report reflected the first full quarter for Westar under leadership of Jim Haines, who was named president in November when former president, chairman and chief executive officer David Wittig resigned.

Revenue rose to $354.4 million from $317.2 million a year ago. Officials credited favorable winter weather and market conditions.

Westar is the state’s largest electric utility, providing service to about 653,000 Kansas customers, which includes Lawrence.

The company’s nonutility investments, including Protection One and partial ownership of ONEOK Inc., a Tulsa, Okla., natural gas company, are being categorized as discontinued operations as Westar divests from them.

In February, Westar sold a portion of ONEOK, netting $244 million after taxes, which will be used for reducing its $3.2 billion in debt.

“This transaction is yet another step toward our goal of returning Westar Energy to a pure Kansas electric utility,” Haines said in a statement.

On Thursday, Westar signed an agreement to sell Protection One Europe to ABN Amro Capital France, which is expected to reduce Westar’s debt by about $114 million.