MOSCOW, November 21 (RIA Novosti) - Novatek [RTS: NVTK] said on Wednesday its net profit calculated to International Financial Reporting Standards (IFRS) increased 21% year on year in January-September 2007 to 13.68 billion rubles (about $558 million).
Russia's largest independent natural gas producer said its revenues in the reporting period grew 22% to 45.51 billion rubles ($1.86 billion) and pre-tax profit climbed 23.8% to 18.48 billion rubles ($754 million).
The company attributed profit growth to the favorable situation with the prices of natural gas and liquid hydrocarbons and an increase in the sale of liquid hydrocarbons.
