PTTEP Shows a Satisfying ฿10.4bln. of Profits in 3Q18 from Strong Baht
In 3Q18, PTTEP acquired ฿10.4 billion of profits, an increase of more than 100% when compared to the same quarter of last year mainly from strong baht and higher average selling price.
PTT Exploration and Production Public Company Limited (PTTEP) has announced its 3Q18 consolidated financial statement through the Stock Exchange of Thailand as follows:
PTTEP’s 3Q18 total revenues were ฿46.09 billion, an increase of ฿8.7 billion when compared with 3Q17’s revenues at ฿37.85 billion. As a result, PTTEP recorded net profit of ฿10.4 billion, an increase of more than 100% when compared with net losses of ฿8.68 billion in 3Q17. The profits were mainly driven by tax saving owing to the appreciated Thai Baht in relative to the US Dollar during the quarter, supported by higher average selling price (ASP) and increased sales volume.
As for the 9 months operation more than 100% when compared with the nine-month period ended September 2017 of 305 MMUSD, primarily due to an increase of Exploration and production segment in America and Thailand of ฿17,770 billion and ฿6,857 billion, respectively.
