BANGKOK (AFX-ASIA) – PTT PLC president Prasert Bunsumpun said the company’s net profit for the nine months to September rose 62.9% year-on-year to 27.96 billion baht. (US$1=40 baht).

The higher results were due to the country’s continuous economic expansion supported by the government stimulus package amid low interest rates, he said in a statement.

The company’s sales in the first nine months totaled 367.83 billion baht, up 27.9% year-on-year. Earnings before interest, tax, depreciation and amortisation (EBITDA) totaled 47 billion baht, against 39.7 billion a year earlier.

In addition, the company booked income of 7.57 billion baht from investments in subsidiaries on the back of rising sales volume and higher products prices, especially for petrochemicals and other refinery products.

The company’s sales in the third quarter totaled 121.38 billion baht, up 15.8% from the same period last year, he said.

EBITDA in the third quarter totaled 15.45 billion baht against 14.81 billion the previous year.

The company’s total assets at end-September stood at 312.05 billion baht, while total liabilities were 193.25 billion baht and shareholders equity totaled 18.80 billion baht.