The state-owned company asked the Economy Ministry in July to approve a budget correction for 2011, since transported volumes increase, which widened revenue by 9%, the company said in a memo sent Friday to the Bucharest stock exchange.
As such, the company said gross profit will be 53% higher than the one budgeted.
Transgaz expenditure has increased by 3% this year, mainly due to the royalties owed to the state budget for the use of the gas transport network. The royalty is worth 10% of the gross revenue achieved from the transit of gas.
Prime Minister Emil Boc on Wednesday rejected the budget correction requests filed by several state-owned companies, such as Transgaz and Romgaz.
Romanian President Traian Basescu said the companies are not earning as much as they should, and he hopes Boc will dismiss their managers.
Transgaz added that another reason for the expenditure increase is the fact that the government asks state-owned companied so distribute 90% of their profits as dividend to the state budget.