Gazprom sees net profit plummet 42% in Q1

Gazprom’s net profit plummeted by 42% year on year in Q1 2017, to RUB 107.64 billion, the company said in its quarterly report.
By Staff reporter 16 May 2017 0 25921

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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