TAIF-NK doubles net profit in 2011
KAZAN. March 27 (Interfax) - OJSC TAIF-NK, a wholly owned OJSC TAIF (Tatar-American Investments and Finance) subsidiary, increased its net profits to Russian Accounting Standards (RAS) last year by 110% from 2010 to 15.889 billion rubles, the company said in its RAS financial report.
Company sales revenues were up 32.9% at 124.269 billion rubles and production cost 25.2% at 94.519 billion rubles. Gross profits climbed 60% to 29.75 billion rubles, sales profits doubled to 20.264 billion rubles, and pretax profits leapt 110% to 19.991 billion rubles.
TAIF-NK processed 8.3 million tonnes of crude oil last year, 2.8% more than in 2010. Output of light hydrocarbons increased 13%, that of straight-run gasoline 5%, and of automotive gasoline 6%.
The TAIF-NK complex includes a refinery, a gasoline plant, and facilities for processing gas condensate.