INA income, revenue, operating profit down in Q1
First-quarter net income of Croatia-based oil-and-gas company INA, a subsidiary of MOL, slipped 8% to HRK 241 million (€31.7m) from the same period a year earlier as revenue plunged, a fresh earnings report shows.
Revenue was down 22% at HRK 5.54 billion. Refining and marketing generated HRK 3.80 billion of the total. Exploration and production brought in HRK 2.17 billion.
INA attributed the fall in revenue to an effort to bring natural gas sales close to domestic production levels and the adaptation of refinery utilization and sales of refined products.
Operating profit fell 4% to HRK 390 million. Earnings per share came to HRK 4.3.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.