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PTT Global Chemical profit misses consensus by 73.9% in Q3

PTT Global Chemical PCL said its third-quarter normalized net income amounted to 13 satang per share, compared with the S&P Capital IQ consensus estimate of 50 satang per share.

EPS fell 88.7% year over year from 1.15 baht.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 587.3 million baht, a decrease of 88.7% from 5.18 billion baht in the prior-year period.

The normalized profit margin fell to 0.6% from 3.7% in the year-earlier period.

Total revenue decreased 33.4% year over year to 94.47 billion baht from 141.94 billion baht, and total operating expenses decreased 32.0% year over year to 91.03 billion baht from 133.82 billion baht.

Reported net income declined 84.2% on an annual basis to 1.21 billion baht, or 27 satang per share, from 7.66 billion baht, or 1.70 baht per share.

As of Nov. 9, US$1 was equivalent to 35.94 baht.