The crude-oil producer, based in the Volga River region of Tatarstan, said earlier its net profits calculated to Russian Accounting Standards had increased 130% year on year in the first quarter, to 12.24 billion rubles (about $452 million).
The prime cost of the company's products rose 29.9% in the reporting period, to 30.07 billion rubles (about $1.1 billion). Gross profits climbed 56.6% year on year in January-March, to 18.55 billion rubles (about $687 million). Operating profit grew 110%, to 16.6 billion rubles (about $615 million).
The company's short-term receivables rose from 22.43 billion rubles (about $830 million) to 31.54 billion rubles (about $1.1 billion). Long-term receivables dropped from 876.25 million rubles (about $32.4 million) to 669.89 million rubles (about $24.8 million). Short-term payables grew increased from 9.53 billion rubles (about $352 million) to 15.56 billion rubles (about $576 million).
Tatneft's net profits calculated to Russian Accounting Standards grew 70% year on year in 2005, to 114.48 billion rubles (about $4 billion)
The government of Tatarstan holds a majority stake in the company. Tatneft has a charter capital of 2.32 billion rubles (about $85 million).
