Korea Gas (KRX:036460) posted first-quarter net income attributable to shareholders of 548.6 billion won, up 49% from 367.5 billion won a year earlier, according to a Wednesday filing with the Korea Exchange.
The South Korean state-owned natural gas company's sales fell 7.3% year over year to 11.8 trillion won from 12.7 trillion won.
Shares of Korea Gas rose nearly 2% at market close.