14 Nov 2013 17:51

Transneft RAS net profits rise 10% in 9M

MOSCOW. Nov 14 (Interfax) - Russian oil pipeline company OJSC Transneft increased its net profits to Russian Accounting Standards (RAS) 10% year-on-year to 8.601 billion rubles in January-September, the company reported.

Company sales revenues edged up 2.5% to 527.417 billion rubles.

January-September cost of sales increased 4.7% to 457.112 billion rubles. Gross profits decreased 9.4% to 70.305 billion rubles. Pretax profits slumped 20.4% to 10.772 billion rubles, sales profits 44.5% to 8.591 billion rubles.

Transneft's accounts payable stood at 168.285 billion rubles on September 30, down 10% from 186.862 billion rubles at end-2012. Its accounts receivable contracted by a quarter to 64.822 billion rubles.