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Repsol YPF Reports 29% Increase In Q1 Profit

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Repsol YPF SA (OTC: REPYY) reported a 29% surge in its first-quarter net profit, excluding inventory effects.

The company's replacement-cost-adjusted net profit increased to EUR654 million, from EUR508 million, in the year-ago period. Repsol's unadjusted net profit rose 11.2% to EUR765 million, from EUR688 million, in the year-earlier period, versus analysts' estimates of EUR557.4 million. The company's operating profit climbed to EUR1.61 billion from EUR1.54 billion. Repsol's overall oil and gas output fell 7.4% to 324,000 barrels of oil equivalent a day.

REPYY shares gained 0.01% to $32.59 in after-hours trading.

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