Total’s net profit falls 35% in Q1

Total on Tuesday posted a significant fall in first-quarter net profit, as oil prices tumbled to historic lows following a drop-off in demand due to the coronavirus crisis, Report informs, citing CNBC.

The French energy major reported Tuesday that first-quarter net profit came in at $1.8 billion, down from $2.8 billion over the same period last year, reflecting a fall of 35%.

The company’s board also confirmed that its first-quarter dividend would be 0.66 euros per share, stable on the same period last year.