BAKU, Azerbaijan, May 14. INPEX Corporation reported a decrease in exploration expenses and operating profit for the three months ended March 31, 2025, Trend reports via the company.
Exploration expenses fell by ¥0.8 billion, or 18.4%, to ¥3.8 billion. Despite this reduction, the company saw an overall decrease in operating profit by ¥56.2 billion, or 14.8%, bringing the total to ¥323.8 billion.
Other key financial highlights include a decrease in cost of sales by ¥21.3 billion, or 8.9%, to ¥217.1 billion. Selling, general, and administrative expenses also dropped by ¥1.5 billion, or 4.9%, to ¥30.7 billion, while other operating income saw a significant decline of ¥6.7 billion, or 55.1%, to ¥5.4 billion.
Share of profit from investments accounted for using the equity method fell by ¥15.2 billion, or 30.2%, to ¥35.2 billion, contributing to a drop in profit before tax, which decreased by ¥37.5 billion, or 10.1%, to ¥335.3 billion.
However, income tax expense decreased by ¥48.7 billion, or 19.6%, to ¥200.5 billion, while profit attributable to non-controlling interests surged by ¥6.7 billion, or 385.2%, to ¥8.5 billion.
Despite the decline in operating profit, profit attributable to owners of the parent company increased by ¥4.4 billion, or 3.7%, to ¥126.2 billion.
