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Inpex fiscal Q1 profit falls YOY

INPEX Corp. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥19.64 per share, a decline of 55.2% from ¥43.85 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥28.69 billion, a decline of 55.2% from ¥64.04 billion in the prior-year period.

The normalized profit margin dropped to 14.5% from 26.2% in the year-earlier period.

Total revenue declined 18.9% on an annual basis to ¥198.14 billion from ¥244.29 billion, and total operating expenses declined 14.4% from the prior-year period to ¥127.36 billion from ¥148.83 billion.

Reported net income fell 67.2% on an annual basis to ¥7.86 billion, or ¥5.38 per share, from ¥23.97 billion, or ¥16.41 per share.

As of Aug. 10, US$1 was equivalent to ¥101.31.