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Rosneft Oil Q2 profit falls YOY

PJSC Rosneft Oil Co. said its normalized net income for the second quarter was 7.30 Russian rubles per share, compared with the S&P Capital IQ consensus estimate of 8.23 rubles per share.

EPS fell 16.9% year over year from 8.79 rubles.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 77.38 billion rubles, a decrease of 16.9% from 93.13 billion rubles in the year-earlier period.

The normalized profit margin fell to 6.6% from 7.1% in the year-earlier period.

Total revenue decreased 10.3% on an annual basis to 1.173 trillion rubles from 1.308 trillion rubles, and total operating expenses fell 11.0% year over year to 982.00 billion rubles from 1.103 trillion rubles.

Reported net income decreased 33.6% on an annual basis to 89.00 billion rubles, or 8.40 rubles per share, from 134.00 billion rubles, or 12.64 rubles per share.

As of Aug. 15, US$1 was equivalent to 64.02 Russian rubles.