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National Petroleum Q3 profit climbs YOY

National Petroleum Co. Ltd. said its third-quarter normalized net income was 26 Taiwan cents per share, a gain from 25 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$80.8 million, a gain from NT$77.4 million in the prior-year period.

The normalized profit margin increased to 1.5% from 1.1% in the year-earlier period.

Total revenue declined 28.9% on an annual basis to NT$5.23 billion from NT$7.35 billion, and total operating expenses fell 29.4% on an annual basis to NT$5.16 billion from NT$7.31 billion.

Reported net income came to NT$103.0 million, or 33 cents per share, compared to NT$102.8 million, or 33 cents per share, in the year-earlier period.

As of Nov. 12, US$1 was equivalent to NT$32.73.