Gazprom’s net profit plummeted by 42% year on year in Q1 2017, to RUB 107.64 billion ($1.90 billion) to Russian Accounting Standards, the company said in its quarterly report.
The results are exactly in line with Interfax calculations published a week earlier based on the company’s net assets. Aggregate revenue declined by less than 1%, to RUB 1.183 trillion. Cost of sales jumped by 12%, to RUB 654.39 billion, causing net profit to decline by 12%, to RUB 530 billion.
Revenue from gas sales declined by 2%,...
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