Total Profit Rises 35% on Higher Oil Prices Amid Output Drop

Business Week reports that Total SA’s (NYSE:TOT) first-quarter profit inched up 35 percent.

The market news is quoted as saying:

Profit excluding changes in inventories and the value of a stake in Sanofi-Aventis SA rose to 3.1 billion euros ($4.6 billion) from 2.3 billion euros a year earlier, the Paris-based company said today. That beat the 3 billion-euro average in a Bloomberg survey of analysts. Net income rose 51 percent to 3.95 billion euros.

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