for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Colombia's Ecopetrol posts soaring Q1 net profit

BOGOTA, May 4 (Reuters) - Colombian majority state-owned oil company Ecopetrol on Tuesday reported a soaring first-quarter net profit of 3.09 trillion pesos ($806.5 million), versus a weak comparative period last year.

The oil company had reported a net profit of 133 billion pesos in the first quarter of 2020, following a global slump in oil prices and after booking an impairment worth 1.21 trillion pesos.

Ecopetrol’s first-quarter earnings before interest, taxes, depreciation and amortization rose 55.7% to 8.19 trillion pesos, the company said.

$1 = 3,831.35 Colombian pesos Reporting by Oliver Griffin; Editing by Leslie Adler

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up