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PTT Global Chemical profit misses consensus by 32.9% in Q1

PTT Global Chemical PCL said its first-quarter normalized net income came to 85 satang per share, compared with the S&P Capital IQ consensus estimate of 1.26 baht per share.

EPS decreased 10.6% year over year from 95 satang.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.81 billion baht, a decline of 10.6% from 4.27 billion baht in the prior-year period.

The normalized profit margin climbed to 3.8% from 3.0% in the year-earlier period.

Total revenue declined 29.7% on an annual basis to 100.09 billion baht from 142.45 billion baht, and total operating expenses declined 31.1% from the prior-year period to 93.67 billion baht from 135.86 billion baht.

Reported net income decreased 10.9% on an annual basis to 5.63 billion baht, or 1.25 baht per share, from 6.32 billion baht, or 1.40 baht per share.

As of May 8, US$1 was equivalent to 33.56 baht.