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CNPC Capital Q2 profit climbs 2,050.3% YOY

CNPC Capital Co. Ltd. said its second-quarter normalized net income came to 1.05 billion yuan, a gain of 2,050.3% from 48.8 million yuan in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 14.6% from 0.7% in the year-earlier period.

Total revenue totaled 7.18 billion yuan, compared with 7.11 billion yuan in the prior-year period, and total operating expenses came to 23.5 million yuan, compared with 881.6 million yuan in the prior-year period.

Reported net income grew 33.6% on an annual basis to 2.15 billion yuan, or 24 fen per share, from 1.61 billion yuan, or 22 fen per share.

As of Aug. 25, US$1 was equivalent to 6.66 yuan.