TOKYO (dpa-AFX) - Osaka Gas Co., Ltd. (OSGSF), a Japan-based energy company, on Thursday reported lower first-quarter profit, despite growth in sales.
Profit attributable to owners of parent fell to 35.680 billion yen or 93.38 yen per basic share from 48.521 billion yen or 122.59 yen per basic share a year earlier.
Operating profit declined to 31.309 billion yen from 47.679 billion yen last year.
Ordinary profit decreased to 50.248 billion yen from 59.341 billion yen a year earlier.
Net sales, however, increased 1.5% to 478.007 billion yen from 470.993 billion yen a year ago.
Looking ahead, the company expects full-year net sales to increase 6.9% to 2.170 trillion yen. Operating profit is forecast to decline 14.2% to 150 billion yen. Profit attributable to owners of parent is projected to decrease 5.1% to 145 billion yen, or 380.73 yen per share.
In Tokyo, Osaka Gas shares closed down 1.73% at 5,519 yen.
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