In January through September last year, Transgaz posted a net profit of RON283.9 million.

Transgaz said total expenditure increased 9.2% on the year to RON749.4 million in the first nine months, while overall revenues were flat at RON1.02 billion.

Gas transport fell by 3.14 million megawatt hours to 90.28 million MWh in January through September 2012, Transgaz said.

The company reported sales of RON945.6 million in the first nine months, up 0.5% from RON940.5 million in the same period a year ago.

Transgaz was listed on the Bucharest Stock Exchange at the beginning of 2008. The Economy Ministry owns a 73.5% stake, investment fund Fondul Proprietatea has almost 15% of its shares and the rest is distributed among minority shareholders.

The government recently announced plans to delay a secondary offering for a 15% stake in Transgaz, citing adverse market conditions.

Friday, Transgaz closed up 2% at RON204 a share. (EUR1=RON4.522)