Italian oil and gas company Eni S.p.A. (E) posted lower net profit of 1.54 billion euros for the 2013 first quarter, versus last year's 3.61 billion euros, with net profit attributable to Eni's shareholders from continuing operations amounting to 1.54 billion euros, or 0.98 euros per share, as against a 3.54 billion euros, or 0.43 euros per share, in the year-ago period.
During the recent quarter, adjusted net profit attributable to Eni's shareholders from continuing operations totaled 1.43 billion euros, down 41.8 percent from the year earlier quarter, and down 39 percent excluding Snam contribution.
The decline in profit was driven mainly by a weakening operating performance and an increased consolidated tax rate, said Eni.
Fourth-quarter net sales from continuing operations fell to 31.16 billion euros, from 33.14 billion euros in the same quarter prior year.
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