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Gazprom Neft Q3 profit climbs 31.6% YOY

PJSC Gazprom Neft said its third-quarter normalized net income was 12.35 Russian rubles per share, an increase of 31.6% from 9.38 rubles per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 58.28 billion rubles, a gain of 31.6% from 44.28 billion rubles in the year-earlier period.

The normalized profit margin climbed to 12.2% from 10.8% in the year-earlier period.

Total revenue grew 17.1% year over year to 479.50 billion rubles from 409.44 billion rubles, and total operating expenses climbed 15.6% from the prior-year period to 391.55 billion rubles from 338.64 billion rubles.

Reported net income increased 36.2% from the prior-year period to 77.73 billion rubles, or 16.48 rubles per share, from 57.09 billion rubles, or 12.10 rubles per share.

As of Nov. 15, US$1 was equivalent to 60.18 Russian rubles.