| Gazprom's IFRS net profit dwindles y-o-y to $10.5 bln in 1H09 |
|
09/11/2009 13:32 (825 Day 01:56 minutes ago) | |||||
|
The FINANCIAL -- According to RIA Novosti, Russian energy giant Gazprom said on November 9 its net profit under International Financial Reporting Standards dwindled to 305.76 billion rubles ($10.5 bln) in January-June year-on-year.
Gazprom posted a net profit of 609.35 billion rubles ($21 billion at current exchange rates) in the first six months of 2008.
The gas monopoly's revenue declined by 6.6% to 1.64 trillion rubles ($56.5 bln) in the first six months of 2009.
The company's net debt grew by 316.5 billion rubles ($10.9 bln), or 31%, to 1.334 trillion rubles ($46 bln) as of June 30, 2009. Gazprom explained the increase by a rise in long-term borrowing and a reassessment of both long- and short-term foreign currency loans.
Gazprom said it borrowed $300 million from the Bank of Tokyo-Mitsubishi UFJ in October under a $500 million loan deal signed in August.
In July-September, the company took out a total of more than 1.4 billion rubles ($49 mln) in loans.
In late October, Gazprom posted a 56% year-on-year decrease in its January-September net profit under Russian Accounting Standards to 189.2 billion rubles ($6.5 bln).
Last year, the energy giant, in which the government controls more than 50%, posted a 52% decrease year-on-year in RAS net profit to 173 billion rubles ($5.9 bln at current exchange rates).
|
|
|
