16 May 2013 14:54

Udmurtneft RAS net profits down 12% in Q1

IZHEVSK. May 16 (Interfax) - OJSC Udmurtneft made net profits to Russian Accounting Standards (RAS) of 4.683 billion rubles in the first quarter, down 11.8% year-on-year, the company reported.

Sales revenues were down 0.8% at 26.225 billion rubles.

Main Udmurtneft financials, 1,000 rubles:

	Q1 2013	Q1 2012
Sales revenues	26 225 184	26 428 811
Cost of sales	10 844 015	10 655 367
Gross profits	15 381 169	15 773 444
Sales profits	5 763 914	7 343 957
Pretax profits	5 869 570	6 671 307
Net profits	4 683 273	5 307 352

Udmurtneft is the biggest oil-producers in Udmurtia, accounting for around 60% of the oil extracted in the republic. Its shareholders are oil major Rosneft and the Chinese corporation Sinopec.