Bangkok:IRPC Public Company Limited has announced a significant recovery in its financial performance for the first nine months of 2026, reporting a net profit of 15,360 million baht. This turnaround has been attributed to a surge in the market gross margin (Market GIM) and the company's efforts in optimizing its assets to strengthen cash flow amid anticipated volatility in the fourth quarter due to geopolitical factors.
According to Thai News Agency, the company's Chief Executive Officer and President, Mr. Sirimeth Leepakorn, highlighted that the profit was achieved despite challenges from geopolitical tensions, trade wars, energy price fluctuations, and a global economic slowdown. IRPC has focused on financial discipline, operational efficiency, and proactive risk management to maintain its competitiveness.
In the third quarter of 2026, IRPC recorded net sales revenue of 78,195 million baht and a gross profit from production at market prices of 10,548 million baht, or US$19.29 per barrel. This marked an increase from the previous quarter, driven by a wider price spread between diesel and crude oil products due to tight global supply conditions.
Additionally, the company's earnings before interest, taxes, depreciation, and amortization (EBITDA) increased to 10,124 million baht in Q3/2026. However, IRPC also reported an unrealized loss of 469 million baht from oil risk management during the same period, contrasting with a profit in the previous quarter. The net profit for Q3/2026 stood at 4,550 million baht, a 56% increase compared to Q2/2026.
Looking ahead, IRPC anticipates high Dubai crude oil prices in Q4 2026 due to supply uncertainties in the Middle East. However, downward pressure on oil prices is expected from increased Saudi Arabian exports and other global factors. The petrochemical market remains challenged by volatile oil prices and raw material costs, prompting cautious approaches from downstream producers.
IRPC's strategic focus on asset optimization aims to enhance cash flow stability and support long-term growth, aligning with its 'Turnaround Today, Transform for Tomorrow' initiative. This strategy is intended to make the organization more agile and competitive, emphasizing data-driven decision-making and careful management for sustainable growth.