Russia's Lukoil Says Q1 Net Profit Down 59%, Misses Forecast



Reuters

MOSCOW, June 6 (Reuters) - Russia's No.2 oil producer Lukoil said on Monday its first-quarter net income fell by 59 percent, year-on-year, to 42.8 billion roubles ($651.3 million) due to a drop in oil prices, missing analysts' forecast of 53.2 billion roubles.

Sales declined to 1.2 trillion roubles from 1.4 trillion roubles a year ago, in line with expectations, while earnings before interest, tax, depreciation and amortization, a gauge of operating profit known as EBITDA, fell by 32 percent to 145.5 billion roubles, compared to an expected 170.4 billion roubles.

(Reporting by Vladimir Soldatkin; Editing by Maria Kiselyova)



WHAT DO YOU THINK?


Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.