In January-March 2011, Transgaz posted a net profit of RON194.9 million.
The state-owned gas firm said its sales fell to RON455.6 million from RON457.6 million in the first quarter of 2011.
Transgaz revenue amounted to RON472 million in the first three months, down from RON474.6 million in the year-earlier period, while total expenditure rose 7.3% on the year to RON260.1 million.
The company’s debts were at RON396.6 million at the end of March, significantly down from RON919.7 million in the same period a year ago.
Romania’s Economy Ministry owns 73.5% in Transgaz and plans to sell a stake of 15% later this year in a secondary public offering on the Bucharest market. Fondul Proprietatea (FP.RO) owns 15% in the gas transport company.
Monday, Transgaz traded down 5.8%, underperforming the general market, which was down 3%. (EUR1=RON4.4265)