The company posted net profit of 12.4 million lei (EUR2.8 million) in January to March, from RON11.4 million in the same period of 2012.
Revenue fell to RON94.7 million, from RON95.5 million in the first quarter of last year, while overall costs dropped 3% on the year to RON79.8 million, Conpet said in a report sent to the Bucharest bourse.
For the whole 2013, state-run Conpet expects 2.6% lower revenue, at RON387.1 million, while the net profit is seen at RON19.8 million, just half of last year’s result.
The Economy Ministry owns 58.72% of Conpet’s shares, while Fondul Proprietatea (FP.RO) controls 29.7%.
Conpet shares closed down 1% Monday. (EUR1=RON4.3207)