Air Products' profit up on lower costs

July 24 Tue Jul 24, 2012 6:12am EDT

July 24 (Reuters) - Industrial gas supplier Air Products and Chemicals Inc said quarterly profit rose 48 percent as lower costs offset weakness in Europe and Asia.

Profit rose to $484.5 million, or $2.26 per share, in the third quarter from $326.5 million, or $1.50 per share, a year earlier.

Revenue fell 5 percent to $2.34 billion.