Bashneft boosts profit 140% in 9M
MOSCOW. Nov 13 (Interfax) - Bashneft boosted next profit to Russian Accounting Standards (RAS) 140% year-on-year to 22.484 billion rubles in January-September, the oil producer said.
Sales revenue grew 250% to 255.645 billion rubles, cost of sales - 220% to 161.47 billion rubles, gross profit - 330% to 94.175 billion rubles, operating profit - 170% to 35.163 billion rubles and pretax profit - 130% to 28.586 billion rubles.
The Sistema holding acquired Bashneft and a number of other fuel and energy enterprises from the internal Russian republic of Bashkortostan in April last year with a view to setting a vertically integrated oil company up.
The Bashkir fuel and energy cluster includes the Novo-Ufimsky or Novoil refinery, which said net profit to RAS rose 8-fold year VTB in the 9M to 2.739 billion rubles.
Novoil's sales revenue grew 14% to 8.257 billion rubles, gross profit - 270% to 2.177 billion rubles, operating profit - also 270% to 2.176 billion rubles and pre-tax profit - 350% to 3.399 billion rubles.
Ufaorgsintez , another of these enterprises, boosted earnings 190% to 628.521 million rubles, with revenue up 11.8% to 5.843 billion rubles, costs - 4.8% to 4.994 billion rubles, gross profit - 80% to 849.535 million rubles, operating profit - 100% to 827.17 million rubles and pretax profit - 170% to 821.5 million rubles.
In addition, Ufaneftechim boosted earnings 210% to 4.524 billion rubles in the 9M, with revenue up 110% to 13.704 billion rubles, gross profit - 120% to 5.437 billion rubles, operating profit - 120% to 5.436 billion rubles and pre-tax profit - 190% to 5.619 billion rubles. Cost of sales fell slightly, to 8.267 billion rubles.
Ufa Oil refinery boosted earnings 160% to 2.529 billion rubles, revenue - 6.4% to 7.474 billion rubles, gross profit - 70% to 2.375 billion rubles, pretax profit - 70% to 2.375 billion rubles and operating profit - 70% to 2.375 billion rubles.