PTT PCL said its first-quarter normalized net income amounted to 4.32 baht per share, compared with the S&P Capital IQ consensus estimate of 6.65 baht per share.
EPS decreased 46.5% year over year from 8.06 baht.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 12.33 billion baht, a decline of 46.5% from 23.03 billion baht in the year-earlier period.
The normalized profit margin declined to 2.4% from 3.4% in the year-earlier period.
Total revenue decreased 24.7% on an annual basis to 515.58 billion baht from 684.30 billion baht, and total operating expenses declined 24.6% on an annual basis to 476.69 billion baht from 632.18 billion baht.
Reported net income fell 20.9% from the prior-year period to 22.55 billion baht, or 7.89 baht per share, from 28.50 billion baht, or 9.98 baht per share.
As of May 13, US$1 was equivalent to 33.55 baht.