April 25, 2024

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[THE INVESTOR] GS-Caltex said on Nov. 9 that its third-quarter earnings jumped 13.6 percent from a year earlier largely thanks to improved cracking margins.

Net profit reached 362 billion won (US$325 million) in the July-September period, the company said in a regulatory filing.

Operating income surged 76.8 percent on-year to 578 billion won in the third quarter, with sales also rising 14.2 percent to 7.54 trillion won over the cited period.

Its refining business logged 427 billion won in operating income during the July-September period on sales of 5.86 trillion won.

Its lubricant unit also racked up an operating income of 58.4 billion won on sales of 281 billion won.

But its chemical business suffered a 25.7-percent drop in its third-quarter operating income at 92.9 billion won on sales of 1.4 trillion won.

By Alex Lee and newswires (alexlee@heraldcorp.com)