08:14 AM EDT, 08/27/2024 (MT Newswires) -- NG Energy International ( GASXF ) said Tuesday that its operating income in the second quarter surged 249% as revenue jumped 262%.

The company booked operating income of US$6.8 million, rising from US$1.9 million.

Revenue was up to US$10.2 million from US$2.8 million.

NG Energy ( GASXF ) said it achieved record funds flow from operations of US$4.2 million, increasing from US$100,000.

"We're pleased to build on a strong Q1 and deliver significant year-over-year growth across revenue, cash flow from operations, funds flow and operating income in the first half of 2024," CFO Jorge Fonseca said. "The business continues to deliver over 65% operating profit margin as we experience strong prices for our natural gas as the marketplace continues to experience short supply, driving compelling economics for our fast-growing business."

The company's share price jumped 6.9% yesterday to $1.08.