By Ilan Brat

MADRID--Spanish oil major Repsol SA (REP.MC) said Thursday its first-quarter profit increased 27% on the year, driven in part by one-time gains from a divestment.

Repsol said net profit was 807 million euros ($1.1 billion) in the quarter compared with EUR634 million a year ago. Repsol closed a deal to sell its liquefied natural gas assets in the fourth quarter of 2013 but recognized some of the gains in the following quarter.

Adjusted net income--a figure that excludes gains or losses in the value of inventories--increased 1.5% to EUR532 million from EUR524 million in the same period a year earlier

Security concerns in Libya shuttered Repsol's main production area in the country for part of the quarter. Total production decreased 5% in the quarter to 343,000 barrels of oil equivalent a day.

But higher profits from the downstream refining and petrochemicals business helped offset the lower production output.

Write to Ilan Brat at ilan.brat@wsj.com

Access Investor Kit for YPF SA

Visit http://www.companyspotlight.com/partner?cp_code=A591&isin=ARP9897X1319

Access Investor Kit for Repsol SA

Visit http://www.companyspotlight.com/partner?cp_code=A591&isin=ES0173516115

Access Investor Kit for Repsol SA

Visit http://www.companyspotlight.com/partner?cp_code=A591&isin=US76026T2050

Access Investor Kit for YPF SA

Visit http://www.companyspotlight.com/partner?cp_code=A591&isin=US9842451000

YPF Sociedad Anonima (NYSE:YPF)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more YPF Sociedad Anonima Charts.
YPF Sociedad Anonima (NYSE:YPF)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more YPF Sociedad Anonima Charts.