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Tatneft Q2 profit climbs 6.7% YOY

PAO Tatneft said its second-quarter normalized net income came to 11.14 Russian rubles per share, compared with the S&P Capital IQ consensus estimate of 9.94 rubles per share.

EPS climbed 7.1% year over year from 10.40 rubles.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 25.19 billion rubles, a gain of 6.7% from 23.61 billion rubles in the prior-year period.

The normalized profit margin increased to 17.1% from 16.3% in the year-earlier period.

Total revenue grew year over year to 146.86 billion rubles from 144.45 billion rubles, and total operating expenses rose year over year to 107.22 billion rubles from 104.37 billion rubles.

Reported net income grew on an annual basis to 30.89 billion rubles, or 13.66 rubles per share, from 29.46 billion rubles, or 12.97 rubles per share.

As of Aug. 26, US$1 was equivalent to 64.30 Russian rubles.