The chemical-processing arm of Malaysia’s national oil company Petronas, said net profit for the first quarter surged on strong revenue.
Revenue jumped 49% to MYR4.7 billion during the quarter from MYR3.1 billion, Petronas Chemicals said.
Shares of Petronas Chemicals were down 1.5% at MYR7.12 ($1.64) before the earnings release.
The net profit beat an estimate of MYR811.9 million by one analyst polled by Eikon.
Net profit for the three months ended March rose to 1.3 billion ringgit ($300 million) from MYR592 million a year ago, according to a local stock-exchange filing.
As it stated in
Petronas Chemicals Q1 net profit more than doubles, plant shutdowns loom- Nikkei Asian Review
Despite Petronas Chemicals’ performance, mandatory maintenance shutdowns could reduce output from its plants in the coming quarters, analysts said.
Revenue for the period climbed 2.4% to 13.86 billion ringgit from 13.54 billion ringgit in 2015.
KUALA LUMPUR (Nikkei Markets) — Malaysia’s state-owned Petronas Chemicals Group Monday said net profit for the first quarter more than doubled from year-ago levels as sales surged.
For the entire 2016 year, net profit rose 5.4% to 2.93 billion ringgit from 2.78 billion ringgit a year earlier, boosted in part by the stronger U.S. dollar.
Shares of Petronas Chemicals rose 0.6% to 7.27 ringgit on Monday while the benchmark FTSE Bursa Malaysia KLCI gained 0.2%.
Colgate is taking all necessary steps to minimise business disruptions
Colgate is taking all necessary steps to minimise business disruptions during the transition”.Shares of the company were trading 1.87 per cent down at Rs 996 on BSE.
NEW DELHI: FMCG major Colgate-Palmolive India today reported a marginal decline in net profit at Rs 142.58 crore for the fourth quarter ended March 31, 2017.The company had posted a net profit of Rs 143.27 crore during the same period last year, Colgate-Palmolive said in a BSE filing.Net sales of the company rose 2.57 per cent to Rs 1,171.77 crore during the quarter under review as against Rs 1,142.36 crore in the January-March quarter of last fiscal.Commenting on the result, Colgate Palmolive (India), MD Issam Bachaalani said: “In the fourth quarter, we saw encouraging signs of recovery from the impact of the liquidity crunch in the prior quarter”.For the entire fiscal, the company reported a net profit of Rs 577.43 crore as compared to Rs 581.17 crore in the 2015 -16 fiscal.Net sales during the year stood at Rs 4,489.85 crore as against Rs 4,318.98 crore in the last fiscal.On the outlook, Bachaalani said: “We expect challenges while transitioning into the GST environment, including an impact on trade pipeline inventory.