PTT Exploration & Production PCL said its first-quarter normalized net income amounted to 4 cents per share, compared with the S&P Capital IQ consensus estimate of 5 cents per share.
EPS declined 61.3% year over year from 11 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $176.0 million, a decline of 61.0% from $451.4 million in the prior-year period.
The normalized profit margin dropped to 12.3% from 24.8% in the year-earlier period.
Total revenue declined 18.7% on an annual basis to $1.48 billion from $1.82 billion, and total operating expenses climbed 6.1% on an annual basis to $1.11 billion from $1.04 billion.
Reported net income declined 30.3% from the prior-year period to $262.0 million, or 7 cents per share, from $376.1 million, or 10 cents per share.
