RussNeft swings to 13.6 bln rbl RAS net profit in January–June

MOSCOW, Jul 22 (PRIME) -- Russian oil company RussNeft posted a 13.575 billion ruble net profit in January–June against an 18.661 billion ruble net loss in the same period of 2020, as calculated under Russian Accounting Standards (RAS), the company said in a report late on Wednesday.

Revenue jumped around 70% to 104.115 billion rubles, while the gross profit soared more than sixfold to 29.148 billion rubles, and sales profit amounted to 20.769 billion rubles against a 2.171 billion ruble sales loss.

The cost of sales went up 34.7% to 74.967 billion rubles. Selling expenses gained 11.9% to 5.622 billion rubles, and administrative costs surged by about 70% to 2.758 billion rubles.

Long-term liabilities of RussNeft shrank to 104.352 billion rubles as of June 30 from 146.637 billion rubles as of the end of 2020, while short-term liabilities jumped to 130.233 billion rubles from 65.361 billion rubles.

(74.4947 rubles – U.S. $1)

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