28 Apr 2010 12:13

Transneft boosts net profit 3.3% to 574.847 mln rubles in Q1

MOSCOW. April 28 (Interfax) - Russian oil pipeline operator Transneft posted a net profit of 574.847 million rubles in the first quarter of 2010 under Russian accounting standards, the company said in a statement.

That is 3.3% higher than the net profit of 556.479 million rubles in the first quarter last year.

Q4 net profit came to 1.26 billion rubles, the company said. The 54.4% drop in the succeeding quarter was mainly due to the increasing negative impact of exchange-rate differences, it said.