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Rosneft Oil profit beats consensus by 21.2% in Q3

PJSC Rosneft Oil Co. said its normalized net income for the third quarter amounted to 8.75 Russian rubles per share, compared with the S&P Capital IQ consensus estimate of 7.22 rubles per share.

EPS increased 2,648.1% year over year from 32 kopecks.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 92.75 billion rubles, an increase of 2,648.1% from 3.38 billion rubles in the year-earlier period.

The normalized profit margin rose to 7.3% from 0.3% in the year-earlier period.

Total revenue declined 8.2% year over year to 1.238 trillion rubles from 1.349 trillion rubles, and total operating expenses fell 5.8% on an annual basis to 1.119 trillion rubles from 1.188 trillion rubles.

Reported net income totaled 112.00 billion rubles, or 10.57 rubles per share.

As of Nov. 25, US$1 was equivalent to 65.57 Russian rubles.