Rice Midstream (RICE) has reported 9.26 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $37.62 million in the quarter, compared with $34.43 million for the same period last year.

Revenue during the quarter grew 15.05 percent to $62.75 million from $54.54 million in the previous year period. Total expenses were 35.31 percent of quarterly revenues, up from 34.70 percent for the same period last year. That has resulted in a contraction of 61 basis points in operating margin to 64.69 percent.

Operating income for the quarter was $40.60 million, compared with $35.62 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $48.76 million compared with $42.24 million in the prior year period. At the same time, adjusted EBITDA margin improved 26 basis points in the quarter to 77.71 percent from 77.45 percent in the last year period.

Commenting on the results, Daniel J. Rice IV, chief executive officer, said, "Our strong first quarter results highlight the strength of our low-risk, high-growth profile and anchoring relationships with our sponsor and third party customers. Our top-tier annual distribution growth and long-term DCF coverage targets are supported by Rice Energy’s strong three-year growth outlook, targeting 27% - 33% compound annual Appalachia net production growth through 2019. We are excited to continue executing our plan to drive long-term value for our unitholders."