RussNeft posts IFRS net profit of 20.4 bln rubles for 2023

MOSCOW. March 26 (Interfax) - RussNeft had net profit of 20.441 billion rubles to International Financial Reporting Standards in 2023, the oil company said in a financial statement.

This was practically level with the 20.446 billion rubles reported for 2022.

Sales revenue fell 17.9% to 238.7 billion rubles and cost of sales fell 26.2% to 172.2 billion rubles.

Revenues from domestic oil sales decreased by 25.1% to 160.6 billion rubles; revenues from exports abroad increased by 2% to 74.3 billion rubles.

The company's long-term liabilities as of December 31, 2023 increased to 74.485 billion rubles against 70.683 billion rubles on the same day last year. Short-term liabilities increased to 93.523 billion rubles from 71.491 billion rubles.

As was reported, RussNeft net profit to RAS in 2023 increased 3.8 times to 31.79 billion rubles. At the same time, revenue fell by 13.1% to 238.83 billion rubles. The cost of sales decreased by 21.7%, to 178.45 billion rubles.