Gazprom Energosbyt boosts profit 38% in 2018 to 3.2 bln rubles
MOSCOW. March 21 (Interfax) - JSC Gazprom Energosbyt, formerly Mezhregionenergosbyt, and now part of Gazprom saw net profit of 3.2 billion rubles in 2018, up 38% compared to last year, Stanislav Ashirov, head of the power sales company, said in an interview with Gazprom's in-house journal.
Increased net profit was prompted by increased dividends from subsidiary entities, Ashirov said. Gazprom Energosbyt's net revenue in the period grew 4.6% to 60.63 billion rubles.
"Our financial health is excellent, as always, and we are fulfilling all the requirements set for the financial condition of energy sales companies within future licensing," the executive said.
The overall volume of power sales by the company in 2018 remained at 2017 levels - 20 billion kWh.
JSC Gazprom Energosbyt, known as Mezhregionenergysbyt through December 2018, is part of Gazprom and operates on the retail and wholesale energy sales markets, mainly providing electricity for Gazprom enterprises. The company also owns the JSC Gazprom Energosbyt Tyumen guaranteed supply company, formerly known as the JSC Tyumen Power Sales Company.