TOKYO -(Dow Jones)- Tokyo Gas Co. (9531.TO) Thursday reported a 24% fall in group net profit for the April-June quarter, mainly due to higher raw materials costs, despite a moderate rise in revenue.
Japan's largest gas utility by sales volume posted a group net profit of Y25.2 billion in the first three months of this fiscal year ending March, down from Y33.2 billion a year earlier. Revenue was Y366 billion, compared with Y342 billion.
For the full fiscal year, the company left unchanged its previous outlook of a net profit of Y65 billion on revenue of Y1.55 trillion. It expects natural gas prices to gradually fall amid the relatively soft global economy, erasing the unexpected rise in costs in the April-June quarter.
Tokyo Gas reports its financial results based on Japanese accounting standards.
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