Thai PTT Q3 net down 5 pct, in line with forecasts

BANGKOK, Nov 10 (Reuters) - PTT PCL PTT.BK, Thailand's largest energy firm, on Tuesday reported a 5 percent drop in net profit, in line with forecasts, due mainly to lower contributions from its exploration and refinery businesses.

Asia-Pacific's third-largest listed integrated oil and gas firm by market value posted July-September net profit of 16.99 billion baht ($510 million), down from 17.9 billion baht a year earlier, and 19.9 billion baht in the previous quarter.

Eleven analysts polled by Reuters had forecast an average net profit of 16.8 billion baht for the quarter.

PTT, Thailand's biggest listed company with a market value of about $21 billion, runs the country's gas pipeline monopoly and controls more than 30 petroleum, gas exploration, petrochemical and refinery businesses.

Earnings in the fourth quarter are expected to be hit by lower earnings from its exploration business due to an oil leak at Australia's Montara field, and next year's outlook will depend partly on how the government resolves a row that has halted some operations at Thailand's largest industrial complex.

PTT shares have risen 52 percent this year, while the broader market .SETI has gained around 60 percent. PTT closed down 1.6 percent on Tuesday ahead of the earnings announcement. ($1=33.31 Baht) (Reporting by Khettiya Jittapong; Editing by Ian Geoghegan)