May 14, 2014 / 3:28 PM / in 4 years

Romania Transgaz net profit rises 37 pct y/y in Q1

BUCHAREST, May 14 (Reuters) - Romania’s state-owned gas pipeline operator Transgaz posted a 37 percent annual rise in its first-quarter net profit to 248.8 million lei ($76.87 million) on Wednesday, largely fuelled by higher transport fees.

Analysts at Raiffeisen Capital & Investment in Bucharest had expected a net profit of 188.5 million lei, while Alpha Finance Romania, 225 million lei. Transgaz recorded a net profit of 336.9 million lei in 2013.

Transgaz shares on the Bucharest bourse closed 0.3 percent lower on the day at 202.35 lei ($62.52) per share. ($1 = 3.2365 Romanian lei) (Reporting by Luiza Ilie; Editing by Radu Marinas)

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