Gazprom says IFRS January–March net loss at 116.25 bln rbl

MOSCOW, Jul 14 (PRIME) -- Russian gas giant Gazprom has a net loss of 116.249 billion rubles in January–March after a net profit of 535.908 billion rubles in the same period of 2019, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on Tuesday.   

Sales revenue decreased by 24% to 1.74 trillion rubles.

The net debt grew by 18% to 3.74 trillion rubles as the amount of long-term loans and loans in the ruble equivalent increased because the exchange rate of the currency fell as compared with the U.S. dollar and euro.

Gazprom raised the estimate of investment for 2020 to 1.646 trillion rubles from 1.61 trillion rubles.

For further details, please see statement on the official website of the company:

https://www.gazprom.com/press/news/2020/july/article508572/

(70.7479 – U.S. $1)

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