IRPC Public Company Limited, or IRPC, reported a net profit for the second quarter of 2026 of 2.92 billion baht, swinging from a net loss of 2.13 billion baht a year earlier. Net sales revenue came in at 80.8 billion baht, up 42 percent, and EBITDA stood at 4.07 billion baht, up from 223 million baht. The main driver was a rise in market gross profit from production to 10.35 billion baht, or 17.12 US dollars per barrel, thanks to improved refining margins in the petroleum business and wider olefins and styrenics spreads amid tight supply due to Middle East tensions. However, the company was still hit by a net inventory loss of 3.69 billion baht from inventory write-downs and oil hedging losses, but an unrealised gain on oil hedging of 2.05 billion baht and a drop in net financial costs to 401 million baht helped support earnings. For the first six months of 2026, the company posted a net profit of 10.81 billion baht, reversing a loss of 3.34 billion baht a year earlier, with net sales revenue of 148.58 billion baht, up 25 percent, and EBITDA rising to 18.82 billion baht from 1.82 billion baht. The second-quarter net profit beat the LSEG consensus estimate of 2.88 billion baht by about 1.56 percent, and the first-half profit exceeded the full-year 2026 forecast of 7.57 billion baht by 42.88 percent.
IRPC Public Company LimitedIRPC swung to a Q2 net profit of 2.92B baht, beating consensus, driven by improved refining margins and petrochemical spreads.
