Energy

Sinopec Q1 net profits up 25.22%

(Xinhua)
Updated: 2011-04-29 11:12

Sinopec Corp, Asia's top oil refiner, said on Thursday that its net profits in the first quarter this year rose 25.22 percent year on year to 20.64 billion yuan ($3.17 billion).

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Its earnings per share stood at 0.24 yuan, the company said in a statement filed with the Shanghai Stock Exchange.

Revenue climbed 34.25 percent to 588.54 billion yuan in the first quarter, according to the statement.

The company said that its crude oil output dropped due to equipment overhaul in its overseas plants. Oil production in the first quarter was down 5.8 percent from a year earlier to 10.98 million tonnes.

Natural gas output climbed 29.8 percent to 3.63 billion cubic meters.