Russia's Novatek Says 1Q Net Profit Up 23%, Beats Forecast

Reuters

MOSCOW, April 28 (Reuters) – Russia's No.2 gas producer Novatek said on Tuesday its first-quarter net profit increased by 23 percent to forecast-beating 31.1 billion roubles ($595.6 million) thanks to rising sales and production.

Analysts, polled by Reuters, expected net income at 27.2 billion roubles.

Novatek also said total January-March revenues rose to 113.7 billion roubles from 88.7 billion roubles in the year-earlier period.

($1 = 52.2200 roubles)

(Reporting by Vladimir Soldatkin; Editing by Lidia Kelly)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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