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MOL Group Q2 net profit down YOY despite higher production

Hungarian firm MOL Magyar Olaj-és Gázipari Rt. reported Aug. 2 a net profit attributable to equity holders of the parent amounting to $270.0 million, or 38 cents per share, for the second quarter, down from $273.9 million, or 37 cents per share, a year ago.

Net sales revenue totaled $4.67 billion during the quarter, dropping from $5.01 billion in the prior-year period. Downstream had the biggest share at $4.17 billion, but decreased from $4.49 billion a year earlier.

Production reached 111,800 barrels of oil equivalent per day for the quarter, up slightly from 109,300 boe/d in the prior-year period.