Petronas Chemicals' earnings fall to RM742mil profit

KUALA LUMPUR: Petronas Chemicals Group Bhd recorded net profit of RM742mil and revenue of RM3.94bil in its third quarter ended Sept 30, 2012 (Q3,2012).

The company said on Tuesday that profit fell 40% or RM531mil as feedstock prices did not move in tandem with lower product prices.

PetChem's earnings before interest, taxes, depreciation, and amortisation fell by RM649mil or 34% to RM1.2bil.

Its revenue declined 15% to RM703mil due to lower prices and lower volumes.

In the nine-month period, net profit stood at RM2.62bil against RM12.22bil in turnover.

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