Mexico’s Pemex swings to $64 million profit in third quarter

(Reuters) – Mexican national oil company Petroleos Mexicanos reported a third quarter net profit of 1.417 billion pesos ($64.1 million), reversing losses from the same quarter last year, the company said in a filing to the Mexican stock exchange on Wednesday.

The swing to profit was attributed mostly to the performance of financial instruments as well as currency gains during the quarter, the company known as Pemex said.

In the third quarter last year, Pemex posted a loss of 87.36 billion pesos.

Revenue at Pemex totaled 239 billion pesos during the July-to-September period, down by nearly a third compared to the 350 billion pesos reported during the same quarter last year.

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