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PTT Global Chemical profit misses consensus by 29.1% in Q2

PTT Global Chemical PCL said its normalized net income for the second quarter amounted to 1.32 baht per share, compared with the S&P Capital IQ consensus estimate of 1.86 baht per share.

EPS fell year over year from 1.36 baht.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 5.95 billion baht, a decline from 6.13 billion baht in the year-earlier period.

The normalized profit margin increased to 5.3% from 4.1% in the year-earlier period.

Total revenue declined 24.4% on an annual basis to 111.98 billion baht from 148.17 billion baht, and total operating expenses fell 28.3% on an annual basis to 100.64 billion baht from 140.45 billion baht.

Reported net income increased 45.4% year over year to 8.97 billion baht, or 1.99 baht per share, from 6.17 billion baht, or 1.37 baht per share.

As of Aug. 7, US$1 was equivalent to 35.16 baht.