PJSC Rosneft Oil Co. said its normalized net income for the first quarter amounted to 1.18 Russian rubles per share, compared with the S&P Capital IQ consensus estimate of 5.25 rubles per share.
EPS declined 69.7% year over year from 3.89 rubles.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 12.50 billion rubles, a decline of 69.7% from 41.25 billion rubles in the prior-year period.
The normalized profit margin dropped to 1.1% from 3.2% in the year-earlier period.
Total revenue decreased 22.0% year over year to 1.008 trillion rubles from 1.292 trillion rubles, and total operating expenses decreased 20.3% year over year to 893.00 billion rubles from 1.120 trillion rubles.
Reported net income declined 75.0% on an annual basis to 14.00 billion rubles, or 1.32 rubles per share, from 56.00 billion rubles, or 5.28 rubles per share.
As of June 6, US$1 was equivalent to 65.26 Russian rubles.