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Tokyo Gas fiscal Q1 profit climbs 50.3% YOY

Tokyo Gas Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥74.74 per share, a gain of 54.0% from ¥48.53 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥36.94 billion, a gain of 50.3% from ¥24.57 billion in the year-earlier period.

The normalized profit margin climbed to 6.9% from 5.2% in the year-earlier period.

Total revenue rose 12.8% on an annual basis to ¥534.04 billion from ¥473.62 billion, and total operating expenses grew 9.3% on an annual basis to ¥474.03 billion from ¥433.69 billion.

Reported net income rose 71.8% from the prior-year period to ¥44.76 billion, or ¥90.56 per share, from ¥26.05 billion, or ¥51.45 per share.

As of Aug. 14, US$1 was equivalent to ¥102.44.