Gazprom 9-Months Net Profit Falls 18% on Lower Finance Income
November 30 2017 - 4:51AM
Dow Jones News
By Adria Calatayud
Gazprom PJSC (GAZP.RS) said Thursday that net profit for the
first nine months of 2017 fell 18%, on the back of lower finance
income, as sales increased.
The Russian gas giant said net profit for the nine months ended
Sept. 30 stood at 581.83 billion Russian rubles ($9.96 billion),
down from RUB709.32 billion. The company's finance income more than
halved to RUB338.35 billion, which affected the decline in the
profit, Gazprom added.
Sales rose by 7% to RUB4.641 trillion, from RUB4.321 trillion,
Gazprom said. The increase in sales was mainly driven by higher
demand of refined products, crude oil, electric and heat energy and
gas transportation, the company added.
Gas sales--the main source of revenue for Gazprom--were nearly
flat at RUB2.332 trillion, as the growth of volumes sold was offset
by the appreciation of the ruble against the U.S. dollar and the
euro, Gazprom said.
Write to Adria Calatayud at
adria.calatayudvaello@dowjones.com
(END) Dow Jones Newswires
November 30, 2017 04:36 ET (09:36 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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