Bashneft boosts IFRS net profit 110% in Q3 to 15.611 bln rubles
MOSCOW. Nov 24 (Interfax) - Bashneft boosted net profit under International Financial Reporting Standards (IFRS) 110% in the third quarter of 2014 to 15.611 billion rubles from 7.388 billion rubles in Q3 2013, the company said in a report.
Analysts told Interfax in a consensus forecast that they had expected the company to post Q3 net profit of 16.776 billion rubles.
Bashneft had net profit if 45.425 billion rubles for January-September 2014, up 39.63% year-on-year.
Experts had expected 9M net profit to be 46.59 billion rubles.
Revenue grew 4% year-on-year to 162.861 billion rubles, slightly above the 161.448 billion rubles originally forecast. Revenue reached 472.705 billion rubles for the 9M, up 13.3% year-on-year and slightly higher than the 471.292 billion rubles projected.
EBITDA reached 29.985 billion rubles for the third quarter, down 6.9% year-on-year and lower than the 31.017 billion ruble forecast. EBITDA increased 9.4% for the 9M to 83.337 billion rubles, which was lower than the forecast 86.012 billion rubles.
As of September 30, 2014, the company's sales network consisted of 565 active filling stations and 220 partner stations operating under the Bashneft trade mark.
