Business

Rosneft's net profit up 19.6% to $3.7 billion in Jan-Sep

12:24 31/10/2007

MOSCOW, October 31 (RIA Novosti) - Russia's largest state-controlled crude producer Rosneft [RTS: ROSN] said on Wednesday its net profit calculated to Russian Accounting Standards (RAS) rose 19.6% year-on-year to $3.7 billion in January-September 2007.

The company said the increase was caused by favorable exchange rate differences on loans, and the calculation of profit tax in the second quarter of 2007 taking into account the repayment of bankrupt oil company Yukos's debts.

Rosneft was Yukos's second largest creditor, and has bought up the company's key assets through liquidation auctions.

The state-controlled company said earlier this month that its US GAAP net profit increased 20.9% year-on-year in January-June, to $2.35 billion.

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<div style="border:1px solid #d3d3d3; padding:17px 0 0px 17px; background:#ffffff; width:510px;"><div style="width:100%; overflow:hidden;"><a target="_blank" href="http://en.rian.ru/business/20071031/86045741.html" style="text-decoration:none;"><img src="http://en.rian.ru/i/eng/logo_sml.gif" alt="RIA Novosti" title="RIA Novosti" style="float:left; margin-right:10px;" border="0" /></a><a target="_blank" href="http://en.rian.ru/business/20071031/86045741.html" style="color:#000000;text-decoration:none;display: block; margin: 0 10px 0 0 ;"><strong style="font:19px Georgia,Arial,sans-serif; line-height:16px; font-weight:bold;">Rosneft's net profit up 19.6% to $3.7 billion in Jan-Sep</strong></a><p style="font:13px Georgia,Arial,sans-serif; padding:5px 10px 0px 0;"><span style="color:#5590bf;">12:24</span> <span style="color:#5590bf; padding-right:7px;">31/10/2007</span> <span style="font-size:12px;">Russia's largest state-controlled crude producer Rosneft [RTS: ROSN] said on Wednesday its net profit calculated to Russian Accounting Standards (RAS) rose 19.6% year-on-year to $3.7 billion in January-September 2007. <a target="_blank" style="color:#335f86; padding-left:10px; text-decoration:underline;" href="http://en.rian.ru/business/20071031/86045741.html" title="Rosneft's net profit up 19.6% to $3.7 billion in Jan-Sep">>></a></span></p><div style="padding:6px 0 15px 30px; font:10px Verdana,sans-serif;"><a target="_blank" style="color:#114472; text-decoration:underline;" href="http://en.rian.ru" title="RIA Novosti">Other news of the day</a></div></div></div>

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Rosneft's net profit up 19.6% to $3.7 billion in Jan-Sep

12:24 31/10/2007 Russia's largest state-controlled crude producer Rosneft [RTS: ROSN] said on Wednesday its net profit calculated to Russian Accounting Standards (RAS) rose 19.6% year-on-year to $3.7 billion in January-September 2007. >>

Other news of the day