Hungarian oil and gas company MOL Nyrt. (MOL.BU) said Friday its adjusted second-quarter net profit rose to a quarterly record on debt revaluation, while its operating profit fell sharply due to lower oil prices and narrowing diesel crack spreads.

MOL's adjusted earnings before interest, tax, depreciation and amortization, or Ebitda, fell 20% from a year earlier to 92.9 billion forints ($495.8 million) in the second quarter. That still exceeded expectations of nine analysts in a poll by portfolio.hu for HUF86.94 billion.

MOL's adjusted net profit totaled HUF156.1 billion in the second quarter, up 42% from HUF109.6 billion a year earlier. That's 14% higher than analysts' expectations for HUF136.5 billion.

Unadjusted net profit was HUF178.5 billion in the second quarter, up 56% from HUF114.7 billion a year earlier. Unadjusted and diluted earnings was HUF1,885 a share versus a HUF1,163 a year earlier.

Company's Web site: www.mol.hu

-By Margit Feher and Veronika Gulyas, Dow Jones Newswires; +361-267-0622; margit.feher@dowjones.com