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Russia's Gazprom Neft Q3 net profit beats forecasts
November 8, 2012 / 8:17 AM / 5 years ago

Russia's Gazprom Neft Q3 net profit beats forecasts

MOSCOW, Nov 7 (Reuters) - Gazprom Neft, Russia’s No. 5 oil producer, said on Thursday its third-quarter net profit jumped 84 percent, quarter-on-quarter, to 55.95 billion roubles ($1.78 billion), beating analysts’ expectations.

Analysts, polled by Reuters, forecasted net income at 52.2 billion roubles.

Gazprom Neft, the oil arm of Gazprom, also said its July-September 2012 revenues increased by 10.6 percent to 333.14 billion roubles on the back of rising crude prices.

It added that its earnings before interest, tax, depreciation and amortisation (EBITDA) rose 36.5 percent to 95.6 billion roubles. ($1 = 31.5125 Russian roubles) (Reporting by Vladimir Soldatkin; Editing by Katya Golubkova)

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