27 Oct 2017 17:31

Bashneft net profit flat at 34.3 bln rubles in 9M

MOSCOW. Oct 27 (Interfax) - Russian oil company Bashneft , which is part of Rosneft , posted an RAS net profit of 34.3 billion rubles in 9M 2017, on a par with the net profit a year earlier, the company reported.

Revenue increased 14% in the nine months to 388.9 billion rubles. "Growth in the indicator was due primarily to a 12% increase in crude oil prices and a 15% increase in oil product prices," a Bashneft representative told reporters.

Cost of sales increased 18% to 261.7 billion rubles and profit on sales rose 15% to 53.2 billion rubles.

Pretax profit was flat at 43 billion rubles compared with 42.6 billion rubles in the same period last year.

Current liabilities inched down to 117.7 billion rubles from 118 billion rubles at the beginning of the year. Long-term liabilities declined 13% to 140 billion rubles.