Inpex books 25.76 billion yen profit

Inpex Holdings Inc. said Wednesday it booked a 25.76 billion yen group net profit in the April-June quarter in the first earnings report it has released since it was formed in April by the merger of Inpex Corp. and Teikoku Oil Co.

The Inpex-Teikoku Oil holding company posted a pretax profit of 132.82 billion yen on sales of 223.03 billion yen.

The developer and producer of oil and natural gas said it could not release year-on-year percentage comparison figures for the results because the merger was conducted on April 3.

For the full year to March 31, Inpex Holdings projects that its net and pretax profits will amount to 118 billion yen and 521 billion yen, respectively, on projected sales of 918 billion yen.