Thailand's PTTEP Q2 Profit More Than Doubles, Beats Forecast

Reuters

BANGKOK, July 28 (Reuters) - PTT Exploration and Production Pcl, Thailand's largest oil and gas explorer, said its quarterly net profit more than doubled, helped by lower expenses.

Net profit was $75 million for the April-June quarter, higher than average forecast of $56 million by 15 analysts polled by Reuters. This compared with a revised $35 million in the same period a year earlier.

Second-quarter revenue fell 23 percent to $1.11 billion from a year earlier, the company said in a statement.

(Reporting by Khettiya Jittapong and Manunphattr Dhanananphorn; Editing by Gopakumar Warrier)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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