Gazprom posts 1Q 2010 net profit of 336.8 billion roubles

Release Date: 2010-09-02

Russian gas major, Gazprom, has posted a 1Q 2010 net profit of 336.8 billion roubles under IFRS.

The bottom line is up year on year from the 1Q 2009 net profit of 110.2 billion roubles, on the back of sales revenues also increasing 14% to 956.8 billion roubles from 837.2 billion roubles in 1Q 2009.

According to the statement, net gas transportation sales grew the most in the first three months of 2010, going up 96% year on year to 25.1 billion roubles, which Gazprom attributed to the increase of volumes of gas transported for independent gas suppliers.

Net sales of gas increased by 1% year on year to 612.8 billion roubles in 1Q 2010, which was primarily due to higher volumes of gas sold in all geographical segments, excluding Europe and other countries, where net sales were down 22% year on year to 286.2 billion roubles. This mainly resulted from the 36% decrease of average realized prices in rouble terms, which was partially compensated by the 37% increase of the volume of gas sold, the company noted.

Source: Russia Today

Type:

NORMAL