IRPC Public Company Limited (SET: IRPC) has announced its 3Q23 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 3Q23 | 3Q22 |
| Net Profit (Loss) Million Baht |
2,438.60 | -2,549.11 |
| Earning Per Share (Baht) |
0.120 | -0.120 |
| % Change | 195.66 | |
| 9 Months | 2023 | 2022 |
| Net Profit (Loss) Million Baht |
493.53 | 2,785.02 |
| Earning Per Share (Baht) |
0.02 | 0.14 |
| % Change | 82.28 | |
IRPC reported a net profit of Baht 2,438 million in 3Q23, a turnaround from Baht 2,549 million of net loss in 3Q22.
The company’s net sales decreased by Baht 10,048 million or by 12% from that in 3Q22 due to a 17% decrease in average selling prices following lower crude oil price versus a 5% increase in sales volume. The average crude intake was 187,000 barrels per day dropping by 1%.
The Market GIM increased by Baht 888 million or by 20%, mainly from a significant decline in the cost of crude premium as well as the increase in petroleum product spreads. There was a net inventory gain of Baht 3,566 million in 3Q23 compared to the net inventory loss of Baht 4,020 million in 3Q22. These led to the Accounting GIM rise by Baht 8,474 million.
Furthermore, the company recorded an unrealized loss on oil hedging of Baht 29 million compared to an unrealized gain on oil hedging of Baht 2,426 million in 3Q22.
