Russia's Gazprom RAS net profit rises 78 pct in Q2

MOSCOW, July 31 (Reuters) - Russian gas export monopoly Gazprom (GAZP.MM) reported on Thursday a 78 percent rise in its net profit, calculated under Russian Accounting Standards (RAS), in the second quarter of 2008.

The world's largest gas producer said in a statement net profit rose to 131.24 billion roubles ($5.60 billion) in the second quarter from 73.72 billion roubles in the same year-ago period.

The firm also said earnings rose to 285.7 billion roubles in the first half of 2008, a 106 percent increase from 138.67 billion roubles in the first six months of 2007.

Analysts tend to focus on Gazprom's financial reports under International Financial Reporting Standards (IFRS), but view the RAS report as important guidance.

The firm also pays annual dividends based on RAS results.

Gazprom has said its IFRS net profit rose more than 9 percent to 695 billion roubles in 2007. It has yet to publish IFRS quarterly results. (Reporting by Tanya Mosolova; Editing by Sue Thomas)