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Enagas's foreign units partly offset Q1 profit decline

MADRID, April 20 (Reuters) - Spanish gas grid operator Enagas said on Tuesday its net profit fell in the first quarter, mainly because of new regulations which forced lower fees in Spain.

The company said its net profit in the quarter fell 22% from a year earlier to 93 million euros ($112.14 million) while revenues fell 15% to 241 million euros.

The company said profits at its foreign units, which rose to 48.8 million euros from 35 million euros a year earlier, partly offset the negative effect of the regulatory changes in Spain. ($1 = 0.8293 euros) (Reporting by Inti Landauro; Editing by Krishna Chandra Eluri)

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