Mdu Resources Group (MDU) has reported 49.80 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $37.30 million, or $0.19 a share in the quarter, compared with $24.90 million, or $0.13 a share for the same period last year.

Revenue during the quarter grew 9.03 percent to $937.90 million from $860.20 million in the previous year period. Total expenses were 92.85 percent of quarterly revenues, up from 92.79 percent for the same period last year. That has resulted in a contraction of 5 basis points in operating margin to 7.15 percent.

Operating income for the quarter was $67.10 million, compared with $62 million in the previous year period.

"We are pleased with our solid first quarter results, and we are looking forward to the growth opportunities we see through the rest of the year," said David L. Goodin, president and chief executive officer of MDU Resources. "The 12 percent increase in earnings from continuing operations highlights the strength of our streamlined, two-platform businesses. Along with cost recovery efforts, higher electric and natural gas sales volumes helped drive higher earnings at our utility business, while weather slowed the seasonal start of our construction materials business. We are appreciative of the regulatory recovery granted by state agencies as we continue to enhance our delivery system for providing safe, reliable, low-cost electric and natural gas services to our 1.1 million utility customers.

For fiscal year 2017, the company expects diluted earnings per share to be in the range of $1.10 to $1.25.