IRPC reported second-quarter 2569 net profit of 2,921 million baht, up 237 percent from a net loss of 2,132 million baht in the same period last year, supported by higher selling prices following rising crude oil prices. This brought first-half net profit to 10,810 million baht, compared with a net loss of 3,338 million baht in the same period a year earlier. Net sales revenue was 80,797 million baht, up 42 percent, as average selling prices rose 48 percent while sales volume fell 6 percent. The company posted second-quarter 2569 EBITDA of 4,070 million baht, an increase of 3,847 million baht from a year earlier but a decline of 10,680 million baht from the first quarter of 2569, due to a net oil stock loss of 3,687 million baht and realised oil hedging losses of 1,187 million baht. Chief Executive Officer and President Terdkiat Prommool said the company is continuing its Recapitalize Plus strategy and expanding its clean energy business through the Nathap solar power development project, phase one, with installed capacity of 98 megawatts, in partnership with GPSC and allies. Commercial operation is expected by December 2571. For the third quarter of 2569, the company expects Dubai crude prices to soften due to the recovery of shipping through the Strait of Hormuz and increased OPEC+ production capacity, while volatility remains from uncertainty in negotiations between the United States and Iran.
IRPC Public Company LimitedNet profit surged 237% to 2.9 billion baht, driven by higher selling prices.
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