Gazprom 2Q Net Profit Rose 16%
5:56 am ET August 29, 2019 (Dow Jones) Print
By Oliver Griffin
Gazprom PJSC (GAZP.RS) on Thursday reported a 16% rise in second-quarter net profit after a slight decline in sales was offset by lower finance expenses.
The Russian oil-and-gas giant made a profit of 300.6 billion rubles ($4.51 billion) in the three months ended June 30, compared with RUB259.2 billion in the year-earlier period.
Sales during the period fell 2.6% to RUB1.78 trillion, Gazprom said.
Net profit for the first half of the year rose 32% to RUB836.5 billion, while sales rose 2.6% to RUB4.08 trillion, the company said. The increase in first-half sales was mainly due to an increase in sales of refined products, crude oil and gas.
Net sales of gas in the first half of the year rose 1% to RUB2.14 trillion, the company said, mainly due to an increase in average prices.
Write to Oliver Griffin at
oliver.griffin@dowjones.com; @OliGGriffin
(END) Dow Jones Newswires
August 29, 2019 05:56 ET (09:56 GMT)
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