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