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Eni Posts Profit In Q2

Italian oil and gas company Eni SpA (E) Friday said its net profit for the second quarter totaled 247 million euros or 0.06 euro per share. This compares to a net loss of 4.4 billion euros or 1.23 euro per share recorded in the year-ago quarter.

On an adjusted basis, net profit was 929 million euros or 0.24 euro per share for the quarter, while last year's net loss was 714 million euros or 0.20 euro per share.

The Group recorded adjusted EBIT of 2 billion euros in the second quarter, compared to a loss of 0.4 billion euros in the same quarter of last year. The Group attributed the results to performances in the E&P segment, the newly incorporated Eni gas e luce & Renewables segment and the Chemicals segment.

The group's total revenues in the second quarter surged to 16.6 billion euros from 8.4 billion euros in the same period a year ago.

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