Russia's Lukoil Says Q3 Net Profit Down 12.5% Q-on-Q

Reuters

MOSCOW, Nov 29 (Reuters) - Russia's No.2 oil producer Lukoil said on Tuesday its third-quarter net profit fell 12.5 percent quarter-on-quarter, while its free cash flow jumped 83.4 percent to 104.5 billion roubles ($1.6 billion).

Its third-quarter net profit was at 54.8 billion roubles ($843 million), slightly missing an average estimate of analysts polled by Reuters, who had forecast the earnings at 55.4 billion roubles.

Sales were down 2.2 percent to 1.3 trillion roubles, while earnings before interest, taxation, depreciation and amortisation (EBITDA) fell 12.5 percent to 165.9 billion roubles.

(reporting by Oksana Kobzeva and Olesya Astakhova; writing by Denis Pinchuk; editing by Polina Devitt)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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