Saratov Oil Refinery increases RAS net profit 20% in Q1
SARATOV. April 26 (Interfax) - OJSC Saratov Oil Refinery , which is part of TNK-BP , boosted its net profit to Russian Accounting Standards (RAS) by 19.6% year-on-year to 807.523 million rubles in Q1 2013, according to the refinery's accounting report.
Revenue was up by a third to 3.573 billion rubles.
Financial highlights for Q1 2013 ('000 rubles):
| Q1 2013 | Q1 2012 | |
| Revenue | 3 573 293 | 2 702 329 |
| Cost of goods sold | 2 261 266 | 1 638 724 |
| Gross profit | 1 312 027 | 1 063 605 |
| Profit from sales | 1 039 077 | 863 324 |
| Profit before tax | 1 012 646 | 847 660 |
| Net profit | 807 523 | 674 921 |
By the beginning of April, the Saratov Oil Refinery's long-term borrowings totaled 9.1 billion rubles, and its short-term borrowings stood at 107.459 million rubles. Short-term payables grew from 3.101 billion rubles to 3.907 billion rubles throughout Q1.
Total receivables came to 6.83 billion rubles at the start of April, compared to 5.266 billion rubles on December 31, 2012.
The Saratov Oil Refinery produces over 20 types of products, including unleaded gasoline, diesel fuel, fuel oils of all types, bitumen, vacuum gasoil and industrial sulfur.
