PTTGC’s 1Q21 Earnings Return to Book a Profit of ฿9.6Bn with a Stock Gain of ฿2.3Bn
With a recovery of stock gain and lower FX loss in 1Q21, PTTGC bounced back to record a net profit of 9.6 billion baht.
PTT Global Chemical Public Company Limited (PTTGC) has announced its 1Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;
PTTGC reported a net profit of 9,694 million baht in 1Q21, increased from a net loss of 8,784 million baht in the same period of last year. The increase was supported by the rise of products price, especially olefins and derivatives led by demand recovery according to the economics condition, increasing of crude oil price, and the company had less maintenance shutdown than 1Q20 which resulted to increasing sales volume.
More importantly, the company recorded a stock gain and NRV of 2,296 million baht in 1Q21, compared to a net loss of 8,906 million baht in 1Q20.
In the meantime, the company recorded a loss from commodity hedging of 226 million baht, and foreign exchange loss of 1,144 million baht, compared to a gain of 1,187 million baht from hedging in 1Q20 and a net loss of 2,193 million baht in 1Q20.