Osaka Gas (TYO:9532) posted a 27% year-over-year drop in attributable profit for the fiscal first quarter to 35.7 billion yen from 48.5 billion yen.
Earnings per share were 93.38 yen, compared with 122.59 yen a year earlier, according to a Tokyo bourse filing on Thursday.
Net sales rose 1.5% to 478.0 billion yen from 471.0 billion yen for the three months ended June 30.
For the fiscal year ending March 31, 2027, the gas company expects an attributable profit of 145.0 billion yen.
The company raised its full-year EPS forecast to 380.73 yen from 377.75 yen and net sales to 2.170 trillion yen from 2.070 trillion yen.
The revision was due to the increase in city gas' unit selling price under the fuel cost adjustment system.
For the current year, the company intends to distribute interim and year-end dividends of 65 yen per share apiece, an increase from the previous year.
Shares of the company fell more than 2% in recent trade.