OGAS net loss narrows in 3rd quarter

State-run Korea Gas Corp. (KOGAS) said Monday that its third-quarter net loss narrowed from a year earlier thanks to a rise in city gas prices.

Net loss reached 140.46 billion won (US$129.2 million) in the July-September period, compared with a loss of 357.6 billion won a year ago, the company said in a regulatory filing.

Sales jumped 29 percent on-year to 6.45 trillion won over the cited period. KOGAS suffered an operating loss of 36.54 billion won for the three-month period, narrowing from an operating loss of 137.79 billion won a year earlier, it said.

KOGAS raised the city gas rate by nearly 6 percent in June.

Shares of KOGAS closed at 85,400 won on the Seoul bourse, up 4.66 percent from the previous session. (Yonhap)