Linde AG, world’s second-biggest producer of industrial gases, reported smaller drop than expected in its quarterly profit this year. This indicated that business is making profits due to cost-cutting and the fact that clients from Asia have resumed their dealings.

In a survey, analysts’ had estimated fall of net income to be 156.5 million Euros which proved wrong as actual fall came out to be 169 million Euros. The sale of fourth consecutive decline in the quarterly revenue, however, was speeded up by the cost-cutting.

In a statement, the Chief Executive Officer, Wolfgang Reitzle said, “Demand in our gases business is beginning to pick up again slowly”, the measures are showing greater impact with increased productivity, he added.

Air Liquide, the top gas producer and larger competitor of Linde, has reported last month a drop of 8.2 percent sales in the third-quarter because of low demand from large industrial clients. Linde reported a rise of 41 cents to 71.8 Euros which later traded at 71.64 Euros in Frankfurt and thereby the stock gained 9.8 percent in a year.

Analysts are making recommendations to buy shares of Linde after discovering the efficient work out of the cost reductions.