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Ecopetrol Q3 profit climbs 62.2% YOY

Ecopetrol SA said its normalized net income for the third quarter came to 1.354 trillion pesos, a gain of 62.2% from 834.88 billion pesos in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 10.2% from 6.9% in the year-earlier period.

Total revenue climbed 9.4% on an annual basis to 13.325 trillion pesos from 12.183 trillion pesos, and total operating expenses climbed on an annual basis to 10.002 trillion pesos from 9.643 trillion pesos.

Reported net income totaled 1.003 trillion pesos, compared with 229.00 billion pesos, or 5.61 pesos per share, in the year-earlier period.

As of Nov. 7, US$1 was equivalent to 3,038.08 Colombian pesos.