Surgutneftegas RAS sales revenue up 41.3% in Q1
KHANTY-MANSIYSK. May 17 (Interfax) - OJSC Surgutneftegas saw its sales revenues increase 41.3% year-on-year to 193.075 billion rubles in the first quarter of this year as calculated to Russian Accounting Standards (RAS), the company reported.
The increase was largely due to increased prices for oil and oil products, as well as higher export duties on them, the company's report says.
Surgutneftegas posted Q1 net profits of 15.3 billion rubles, an 82% increase.
January-March gross profits were up 76.8% at 74.026 billion rubles, sales profits 93.3% at 60.932 billion rubles, and pretax profits 69.3% at 19.220 billion rubles.
The company's Q1 accounts payable increased 14.5% year-on-year to 51.709 billion rubles and its accounts receivable 18.3% to 109.801 billion rubles.
