UPDATE: Transneft RAS net profit jumps 92% to 58.8 bln rbl in 2017

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MOSCOW, Mar 30 (PRIME) -- The net profit of oil pipeline monopoly Transneft jumped 92% on the year to 58.8 billion rubles in 2017, as calculated under Russian Accounting Standards (RAS), the company said in a report on Friday.

Revenue rose 4.1% to 835.9 billion rubles.

Gross profit went up 16.3% to 115.95 billion rubles, and sales profit grew 25.7% to 61.6 billion rubles.

The cost of sales gained 2.4% to 720 billion rubles. Business costs increased 0.8% to 30.316 billion rubles, and administrative costs rose 16.8% to 24.1 billion rubles.

Capital and reserves of Transneft rose 3.6% to 190 billion rubles. Long-term liabilities of the company shrank 5.43% in the year to 590.8 billion rubles as of the end of 2017, and short-term liabilities decreased 7% to 284.1 billion rubles.

(57.7626 rubles – U.S. $1)

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