Australia's Origin Energy on Thursday cut its core earnings forecast for the energy markets division due to weak demand for oil and gas products amid the COVID-19 pandemic.
The gas and power retailer now expects underlying earnings before interest, taxes, depreciation, and amortization (EBITDA) to be between A$1 billion to A$1.14 billion ($762.00 million to $868.68 million) for fiscal 2021, down from a previous estimate of A$1.15 billion to A$1.3 billion.
($1 = 1.3123 Australian dollars)
(Reporting by Anushka Trivedi in Bengaluru; Editing by Anil D'Silva)
