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PTT Exploration and Production's quarterly consolidated net profit dropped 35.5 per cent on year to Bt5.7 billion, due to an immense increase in expenses. Expenses in the quarter increased Bt2.66 billion or 21 per cent on year to Bt15 billion. Its consolidated revenue however dropped 7 per cent on year to Bt26.5 billion.

Thai Plastic and Chemicals, a major chemical company, reported a 34 per cent drop in consolidated revenue in the first quarter of this year. Revenue in the quarter totalled Bt5.57 billion, down by Bt2.8 billion from the same period last year. This resulted in a 6 per cent or Bt44 million drop in quarterly net profit, to Bt646 million.

Thai Cane Paper Plc's revenue also dropped 34 per cent on year to Bt813.9 million, while its net profit contracted 14.20 per cent to Bt28 million. Its operating profit also shrank 9.52 per cent to Bt39.9 million.

Last week, most financial institutions also showed a drop in quarter net profits, as loan growth shrinks amid fears of growing non-performing loans.