China's state-controlled Sinopec Corp. on Thursday said net income jumped more than sixfold year-on-year in the third quarter as it avoided a repeat of a heavy foreign exchange loss and its profitable refining operations offset an upstream slump. Hong Kong-listed Sinopec's net profit came in at 10.19 billion yuan ($1.5 billion) in July-September, compared with just 1.65 billion yuan a year earlier, when it took a 3.85 billion yuan foreign exchange loss (IOD Oct.30'15). It made a forex gain of 201 million yuan this time around, while revenues were down 2.5% at 484.73 billion yuan.
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