11 Nov 2011 17:01

NOVATEK IFRS net profits slump 17% in Q3

MOSCOW. Nov 11 (Interfax) - The net profits earned by independent gas producer NOVATEK in the third quarter amounted to 8.4 billion rubles to International Financial Reporting Standards (IFRS) versus 10.1 billion rubles a year prior, the company said in a statement.

The average market projection for net profits was 8.3 billion rubles.

Adjusted profit, excluding exchange rate differences from currency recalculations, amounted to 14.7 billion rubles compared with 9.5 billion rubles in Q3 2010.

NOVATEK increased its net profits almost 50% to 41.7 billion rubles in the period January-September.