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Gazprom Q1 profit climbs 35.6% YOY

PJSC Gazprom said its normalized net income for the first quarter amounted to 13.96 Russian rubles per share, an increase of 35.6% from 10.29 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 321.10 billion rubles, an increase of 35.6% from 236.73 billion rubles in the prior-year period.

The normalized profit margin climbed to 19.5% from 15.2% in the year-earlier period.

Total revenue grew 5.7% year over year to 1.648 trillion rubles from 1.559 trillion rubles, and total operating expenses increased 8.2% from the prior-year period to 1.142 trillion rubles from 1.056 trillion rubles.

Reported net income grew 71.3% on an annual basis to 382.11 billion rubles, or 16.61 rubles per share, from 223.01 billion rubles, or 9.70 rubles per share.

As of Aug. 10, US$1 was equivalent to 63.31 Russian rubles.