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Transneft Q3 profit climbs YOY

PJSC Transneft said its normalized net income for the third quarter came to 40.10 billion rubles, an increase from 39.48 billion rubles in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to 18.3% from 18.7% in the year-earlier period.

Total revenue increased on an annual basis to 219.55 billion rubles from 211.64 billion rubles, and total operating expenses grew 5.4% on an annual basis to 157.01 billion rubles from 148.99 billion rubles.

Reported net income came to 53.02 billion rubles, compared with 48.04 billion rubles in the year-earlier period.

As of Nov. 29, US$1 was equivalent to 58.52 Russian rubles.