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Tatneft profit misses consensus by 18.7% in Q3

PAO Tatneft said its third-quarter normalized net income came to 12.50 Russian rubles per share, compared with the S&P Capital IQ consensus estimate of 15.36 rubles per share.

EPS climbed 33.9% year over year from 9.33 rubles.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 28.13 billion rubles, an increase of 33.3% from 21.10 billion rubles in the year-earlier period.

The normalized profit margin rose to 16.5% from 14.3% in the year-earlier period.

Total revenue grew 15.6% year over year to 170.40 billion rubles from 147.40 billion rubles, and total operating expenses grew 15.0% from the prior-year period to 130.81 billion rubles from 113.72 billion rubles.

Reported net income rose from the prior-year period to 27.06 billion rubles, or 12.02 rubles per share, from 26.69 billion rubles, or 11.81 rubles per share.

As of Nov. 30, US$1 was equivalent to 58.47 Russian rubles.