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PTT Global Chemical Q1 profit climbs 177.5% YOY

PTT Global Chemical PCL said its first-quarter normalized net income came to 2.06 baht per share, compared with the S&P Capital IQ consensus estimate of 2.17 baht per share.

EPS rose 177.5% year over year from 74 satang.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 9.21 billion baht, a gain of 177.5% from 3.32 billion baht in the year-earlier period.

The normalized profit margin climbed to 8.5% from 4.1% in the year-earlier period.

Total revenue rose 32.6% on an annual basis to 108.04 billion baht from 81.47 billion baht, and total operating expenses increased 23.9% year over year to 94.70 billion baht from 76.41 billion baht.

Reported net income rose 180.0% on an annual basis to 13.18 billion baht, or 2.96 baht per share, from 4.71 billion baht, or 1.06 baht per share.

As of May 11, US$1 was equivalent to 34.74 baht.