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PTT Global Chemical profit misses consensus by 47.1% in Q2

PTT Global Chemical PCL said its normalized net income for the second quarter came to 91 satang per share, compared with the S&P Capital IQ consensus estimate of 1.73 baht per share.

EPS increased year over year from 88 satang.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.07 billion baht, a gain from 3.91 billion baht in the year-earlier period.

The normalized profit margin declined to 5.2% from 5.5% in the year-earlier period.

Total revenue grew 43.3% year over year to 101.66 billion baht from 70.92 billion baht, and total operating expenses rose 46.6% year over year to 95.31 billion baht from 65.00 billion baht.

Reported net income rose 34.1% on an annual basis to 6.60 billion baht, or 1.48 baht per share, from 4.92 billion baht, or 1.10 baht per share.

As of Aug. 9, US$1 was equivalent to 33.25 baht.