Thai Oil Q1 net profit down 21 pct, but better then expected
BANGKOK May 9 (Reuters) - Thai Oil Pcl, Thailand's top oil refiner, reported a 21 percent drop in quarterly net profit on Friday, as weak margins from its aromatic petrochemical unit outweighed improved performance in its refinery business.
Thai Oil, nearly half owned by top energy firm PTT Pcl , posted a net profit of 2.53 billion baht ($77.91 million), down from 3.23 billion baht a year earlier but an improvement on a loss of 14 million baht in the previous quarter.
The profit was slightly higher than the 2.15 billion baht average forecast by 10 analysts polled by Reuters.
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($1 = 32.4750 Thai Baht) (Reporting by Khettiya Jittapong; Editing by Paul Tait)