Net profit of PetroChina up 12.1 pct in Q1

A staff member inspects the Shuangtaizi gas storage area of PetroChina Liaohe Oilfield gas storage group in Panjin, northeast China's Liaoning Province, June 15, 2022. (Xinhua/Pan Yulong)

BEIJING, May 2 (Xinhua) -- Chinese oil giant PetroChina reported a 12.1 percent year-on-year increase in its net profit in the first quarter.

Net profit attributable to the parent company reached 43.62 billion yuan (about 6.3 billion U.S. dollars) in the first three months, the company said in a statement filed with the Shanghai Stock Exchange.

The company's business revenue fell 6 percent to 732.47 billion yuan in the reporting period, it said.

The company also said that its basic earnings per share stood at 0.24 yuan.

Its shares on the Shanghai Stock Exchange went up 5.2 percent on April 28, the previous trading day, to 7.89 yuan.