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Thailand's PTT reports USD1.2m profit in Q3  Join our daily free Newsletter

MENAFN - 15/11/2012

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(MENAFN) Thai oil and gas firm PTT Pcl reported a 68 percent jump in quarterly profit on higher gas sales, higher income from its upstream unit and rising profits from its refinery and petrochemical businesses, Reuters reported.

The company said it made USD1.2 billion net profit during the third quarter, up from USD698.42 million a year earlier.

The company also reported a 5.8 percent increase in quarterly revenue to USD22.32 million, on the back of an 8.5 percent increase in quarterly sales natural gas to 4.611 billion cubic feet per day.

Asia-Pacific's third-biggest oil and gas firm by market value is expected to continue benefitting strong earnings growth next year, as gas demand from regional customers is expected to grow 4-6 percent over the next two years.

 






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