Transneft sees IFRS earnings fall 9.3% in 9M to 116.6 bln rubles

Home > Newsroom > Top Stories > Transneft sees IFRS earnings fall 9.3% in 9M to 116.6 bln rubles

Transneft sees IFRS earnings fall 9.3% in 9M to 116.6 bln rubles

MOSCOW. Dec 1 (Interfax) - Transneft saw net profit under International Financial Reporting Standards (IFRS) fall 9.3% in January-September 2014 to 116.6 billion rubles, the company said in a report.

This figure fell 37.5% in the third quarter to 25.5 billion rubles.

Revenue increased 2.2% in the 9M to 573.9 billion rubles and 2% in Q3 to 196 billion rubles. Operating expenses grew 5% from the start of the year to 389.4 billion rubles and 3.7% in Q3 to 135.6 billion rubles.

Earnings before taxes, depreciation, and amortization (EBITDA) were unchanged year-on-year in January-September 2014 and stood at 264.551 billion rubles.