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29

Gazprom's Net Profit Rise

Gazproms net profit under IFRS grew 1.65 times to $20.79 bln. in the first nine months of 2008, the Russian gas monopoly announced in a press release Tuesday

According to the company's unaudited financial statement, sales revenue climbed 1.55 times to $71.16 bln., sales profit doubled to nearly $28.29 bln., and pretax profit jumped 1.66 times to some $28.1 bln.

Similarly, net revenue from natural gas sales grew 49 percent to roughly $43.75 bln., while operating expenses went up 33 percent to $42.9 bln.

Author: Ksenia Kochneva