Eni Reports 31% Drop In Q2 Net Profit

Eni SpA E reported a 31% drop in its second-quarter net profit and lifted the interim dividend by 4%. Eni's net profit came in at EUR1.25 billion, down from EUR1.82 billion, in the April-June period of 2010. Eni's adjusted net profit declined 14% y/y to EUR1.44 billion from EUR1.67 billion. Analysts were expecting adjusted net profit of EUR1.64 billion. Eni's shares fell 0.86% to close at $43.64 yesterday.