PTT's Q2 net profit up 43 percent, but below forecasts
BANGKOK Aug 9 (Reuters) - Thai oil and gas firm PTT reported a less than expected 43 percent rise in second-quarter net earnings on Friday, boosted mainly by lower inventory losses.
State-controlled PTT, the Asia-Pacific region's third-biggest listed oil and gas firm by market value, posted a net profit of 12.3 billion baht ($393 million), up from 8.57 billion baht in the same three months of 2012.
The result, which was lower than the 36.1 billion baht in the previous quarter, missed the average forecast of 14.8 billion baht given in a Reuters poll of nine analysts.
Shares in PTT, valued at $30 billion, have fallen 2.4 percent over the past 12 months, underperforming a 19 percent rise in the broader Thai market index. ($1=31.2600 Thai baht) (Reporting by Khettiya Jittapong; Editing by Greg Mahlich)