Tatneft IFRS net profit plummets 46.2% to 103.49 bln rbl in 2020

MOSCOW, Mar 31 (PRIME) -- The net profit of Russian oil company Tatneft attributable to the shareholders plummeted by 46.2% on the year to 103.49 billion rubles in 2020 from 192.26 billion rubles in 2019, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on Wednesday.

Sales revenue and other operating incomes from nonbanking activity decreased by 22.7% on the year to 720.677 billion rubles in 2020.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) shrank to 179.871 billion rubles from 290.800 billion rubles, with adjusted EBITDA plummeting to 187.304 billion rubles from 328.412 billion rubles.

For further details, see the company’s statement on its official website:

https://www.tatneft.ru/press-center/press-releases/more/8354?lang=en

(75.7023 rubles – U.S. $1)

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