Total’s adjusted profit up by 13 pct on record output

French oil major Total saw its net profit fall by 7 percent for the first quarter of the year. However, in adjusted terms, Total’s profit rose by 13 percent as its production grew by 5 percent. 

According to its financial statements released on Thursday, the company’s net income decreased by 7% to a $2.6 billion from $2.8 billion in the first quarter of 2017.

On the other hand, Total’s adjusted net income was $2.9 billion in the first quarter of 2018, an increase of 13% compared to $2.6 billion adjusted net income a year ago.

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