Oil company Prio reported net profit of $217.7 million in the first quarter of this year, a 2% decline from the same period last year, the company reported Tuesday.
Earnings before interest, taxes, depreciation and amortization (Ebitda) were $477.8 million in the January-March period, up 32% year-on-year. Both numbers include changes to IFRS-16, according to Prio.
Prio’s total revenue increased 13% in the quarter to $639.4 million. The company’s total production stood at 88.33 thousand barrels of oil equivalent per day (boepd), a year-on-year increase of 44.7%.
Source: Terra
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