Net profit in October-December was 5 billion rubles ($213 million), a 26.7% rise on the third quarter, which the company said was due to higher earnings caused by an increase in prices and sales.
Novatek's natural gas output declined 0.7% in 2007 on the previous year, to 28.5 billion cubic meters.
Novatek, which trails Russian state-run energy giant Gazprom, accounts for some 29% of the country's gas output and is planning to increase its share to 40% in the next five years. In September 2006, Gazprom bought 19.4% of Novatek shares.
Established in 1994, Novatek handles the prospecting, production and refining of gas and liquid hydrocarbons. Its gas fields are located in the Yamal-Nenets autonomous area, which has the world's largest natural gas reserves. The region accounts for over 90% of Russian natural gas output and around 20% of global gas production.
The company's charter capital of 303.6 million rubles ($12.9 million) is divided into 3.036 billion shares.
