Mexico's Penoles posts drop in first-quarter profit

MEXICO CITY, April 30 Wed Apr 30, 2014 7:08pm EDT

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MEXICO CITY, April 30 (Reuters) - Mexican mining company Industrias Penoles on Wednesday said its profit in the first quarter fell 42 percent from the same period last year.

Penoles earned 1.236 billion pesos ($95 million) in the first quarter compared to 2.142 billion pesos in the year-ago period, the company said in a statement.

(1$ = 13.06 pesos) (Reporting by Michael O'Boyle)

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