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People & Business :: Earnings/Finance
Mixed results for Ecopetrol subsidiaries
12:46 PM MDT | August 1, 2013 | Francinia Protti-Alvarez
Propilco (Bogotá), the polypropylene (PP) and polyethylene (PE) manufacturing subsidiary of Ecopetrol (Bogotá), reports a net profit of 2.2 billion Colombian pesos ($1.16 million) during the second quarter of 2013, down significantly from the peso11.4 billion reported in the same quarter last year. Ebitda also fell to peso15.6 billion. The decreases in earnings came despite an approximately 18% increase in sales during the same period. PP and PE volumes totaled 113,587 m.t. during the second quarter, up from 96,798 m.t. in the same quarter last...
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