Bangkok: IRPC Public Company Limited announced a profit of 340 million baht for the third quarter of 2025, as the company advances its “4R” strategy aimed at enhancing competitiveness and long-term profitability. The announcement marks a significant turnaround from the previous quarter.
According to Thai News Agency, Mr. Therdkiat Prommoon, Chief Executive Officer and President of IRPC, reported net sales revenue of 57.938 billion baht, reflecting a 2 percent increase from the previous quarter. The company’s Market GIM stood at 5.493 billion baht, or US$9.04 per barrel, showing a 5 percent rise compared to Q2 2025. The company had previously recorded a net loss of 2.132 billion baht in Q2.
The profit boost stemmed from a 1% rise in average selling prices driven by higher crude oil prices and a 1% increase in sales volume. The petroleum business experienced an improvement in market gross refining margin due to increased spreads between petroleum products. Meanwhile, the utilities business maintained stable gross profits from electricity and steam sales. The conflict between Russia and Ukraine led to an increase in Dubai crude oil prices during Q3 2025, resulting in a net inventory gain of 502 million baht, or US$0.83 per barrel. Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose by 2,806 million baht compared to the previous quarter, reaching 3,029 million baht.
For the first nine months of 2025, IRPC reported net sales revenue of 176,964 million baht, with a 15% decrease in average selling prices and a 4% decline in sales volume. The company recorded an investment loss of 215 million baht, resulting in a net operating loss of 2,998 million baht for the period, which was 1,070 million baht less than the same period last year.
Mr. Therdkiat emphasized the company’s commitment to the “4R” strategic plan for 2025-2030, which includes Re-capitalize, Re-vitalize, Re-invent, and Re-frame. The strategy seeks to drive profitability and ensure sustainable long-term financial health. Key initiatives involve optimizing non-core assets, enhancing core business efficiency, investing in new revenue streams, and utilizing digital technology to transform the organization. The plan also focuses on human resource development and aligning business models with sustainable growth strategies to meet international standards.