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CNPC Capital Q1 profit falls YOY

CNPC Capital Co. Ltd. said its normalized net income for the first quarter came to 10 fen per share, a decrease of 24.5% from 13 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 866.3 million yuan, a decrease of 7.9% from 940.6 million yuan in the prior-year period.

The normalized profit margin declined to 12.9% from 13.6% in the year-earlier period.

Total revenue decreased on an annual basis to 6.69 billion yuan from 6.92 billion yuan, and total operating expenses declined 23.2% on an annual basis to 747.6 million yuan from 973.7 million yuan.

Reported net income increased year over year to 1.44 billion yuan, or 16 fen per share, from 1.40 billion yuan, or 19 fen per share.

As of April 26, US$1 was equivalent to 6.89 yuan.