Transgaz’s net profit in the first three quarters increased by 3% over the reference period of the previous year, in line with revenues, reaching the 384.32 million lei level, according to a financial report released by the operator of the national gas transportation system.

In the Revenue and Expenses Budget, the net profit for the three quarters budgeted to date was 302.75 million lei, 27% lower than the one succeeded.

In the reporting period from January to September, the gas transport operator collected 1.25 billion lei, compared to 1.22 billion lei in the same period last year. Reducing costs below the forecast enabled the net profit growth. Last year, during the same period, Transgaz realized a net profit of 374.03 million lei.

Costs rose by 12 million lei compared to last year, to 783.25 million lei, but were lower than the 908.18 million budgeted for January-September. At the most recent stock exchange, the capitalization of the company is 3.12 billion lei (702 million euros), writes profit.ro.

In the recently completed investment, the gas turbocharged station owned and operated by Transgaz in Şinca Noua was completely modernized after an investment of almost 101 million lei in new equipment. The funding was provided both from European funds through the European Regional Development Fund and the national budget.