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Transgaz posts net profit of nearly RON 249 million, up 37 pct in Q1

Transgaz Medias national gas transmission corporation has reported a Q1, 2014 gross profit of 273.342 million RON, up 29 per cent from Q 1, 2013, and a net profit of 248.803 million RON, up 37 per cent, according to a press release issued by the Bucharest Stock Exchange (BVB).

2014-05-22 10:40:02

Total revenue was also up 15 per cent, or 70.357 million RON, from the first three months of 2013, to 526.757 million RON. The increase in revenue was mainly the result of an increase in tariffs for capacity reservation from the year before.

Revenue from international natural gas transmission dropped by 184,000 RON because of an exchange rate of the local currency against the US dollar that was smaller than in the year before.

Total spending advanced 3 per cent, to 253.415 million RON, mainly influenced by new taxes on the natural monopoly on electricity and natural gas as well as on special structures.



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