INPEX CORPORATION ( (IPXHF) ) has released its Q3 earnings. Here is a breakdown of the information INPEX CORPORATION presented to its investors.
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INPEX CORPORATION is a leading Japanese company operating in the energy sector, primarily focusing on oil and natural gas exploration, production, and distribution across international markets. Known for its significant presence in global energy projects, the company is listed on the Tokyo Stock Exchange.
INPEX CORPORATION reported a robust performance for the nine months ending September 30, 2024. The company achieved a significant rise in revenue, operating profit, and profit before tax compared to the same period last year, driven primarily by favorable exchange rate movements and increased crude oil sales.
Revenue for the period increased by 9.1% to ¥1,747.5 billion, largely due to a 13.7% rise in crude oil sales. Operating profit surged by 24.9% to ¥1,018.0 billion, while profit before tax grew by 13.5% to ¥1,048.4 billion. The company’s profit attributable to owners of the parent rose by 8.7% to ¥289.4 billion. Despite challenges in the natural gas segment, the depreciation of the yen bolstered the company’s overall performance.
INPEX’s financial position remains strong, with total assets increasing to ¥6,994.2 billion as of September 30, 2024. The company has revised its financial forecasts for the full year, projecting steady growth in revenue and profit amid ongoing fluctuations in crude oil prices and exchange rates.
The management team at INPEX CORPORATION remains cautiously optimistic about the company’s future, citing strategic investments and market conditions as crucial factors for continued growth. They are focused on navigating the challenges of the energy market while capitalizing on opportunities to enhance shareholder value.
